IS JANN WENNER SELLING US WEEKLY?
The New York Post is reporting that Jann Wenner is in talks with Condé Nast to sell Us Weekly for a reported $750 million.
“Jann is definitely trying to sell Us Weekly,” an industry source told the Post.
Earlier this week, Folio reported that Wenner was asked by Charlie Rose if he was selling Rolling Stone to Condé Nast. When Wenner seemed uncomfortable answering the question, the speculation began.
It now appears Rose was right about the talks, but wrong about the magazine.
A Wenner Media spokesman dismissed the talk: “There are no talks. Wenner Media and its properties are not for sale.”
(PR Translation: In my opinion, Jann is actively pursuing this sale! PR people are usually the last people to know anything of this nature.)
Today’s news leaves many questions unanswered?
- Will Condé Nast still be interested in Us Weekly once they receive the first-half ABC numbers for 2008, which will most likely be significantly less than the previous year?
- Does Janice Min come with the package?
- Is this why Us Weekly has been doing so many soft covers this year like the one above?
Bottom line: If this sale goes through, congrats to Jann Wenner who turned Us Weekly into one of the most successful publishing ventures in history.
