Today, Condé Nast announced its plans to sell the U.S.-based trade publishing assets of Fairchild Fashion Media (FFM) to Penske Media Corporation (PMC). The transaction includes business-to-business brands Women’s Wear Daily, Footwear News, Beauty Inc, M and the Fairchild Summits. Consumer brands Style.com and NowManifest will remain at Condé Nast. The deal is expected to close in September 2014 and financial terms and details were not disclosed. Gina Sanders, FFM president and CEO since January 2010, will be remaining at Advance Publications in a new role to be announced shortly. Employees of the acquired Fairchild assets will move to PMC with the sale.**
“Today’s announcement reflects our strategy of investing resources in Continue reading