A longtime newsstand staple goes by the wayside: Dotdash, a unit of Barry Diller’s IAC holding firm, has acquired wedding ceremony and bridal property Brides from Condé Nast and can shut down the print version of the 85-year-old title.
Phrases of the deal weren’t disclosed. The deal information comes simply two days after Condé Nast bought Golf Digest to Discovery in a deal reported to be price $30 million-$35 million.
The six-times-yearly Brides print journal shall be discontinued after the August/September 2019 difficulty within the U.S. and the September/October difficulty within the U.Okay.
Dotdash is bringing on eight Brides editorial staff as a part of the transaction, which a rep mentioned is almost all of the prevailing editorial crew. That features Lisa Gooder, govt director of Brides at Condé Nast who has been on the journal since 2011, will lead Brides at Dotdash as GM and can proceed to supervise Brides’ technique and content material.
Dotdash mentioned it should set a digital focus for the way forward for Brides, whose opponents embody The Knot and WeddingWire, with content material and assets to information readers from a proposal by means of engagement, to their wedding ceremony and honeymoon. In March 2019, Brides had 3.6 million distinctive guests (doubling within the final 4 years), based on comScore, whereas its print readership has declined 4% since 2014 to hover round 300,000, the New York Instances reported.
“Including Brides to our portfolio of manufacturers provides us a robust platform to tackle the marriage area and extends our skill to succeed in younger girls at key moments of their lives,” Neil Vogel, CEO of Dotdash, mentioned in an announcement.
Up to now two years, Condé Nast has been rejiggering its model portfolio has print revenues have declined, shuttering print variations of Glamour, Teen Vogue and Self. The corporate final month named Roger Lynch, previously chief exec of Pandora and head of Sling TV, as its first world CEO, seems to be to mount a digital-led turnaround.
Brides joins Dotdash’s steady of manufacturers geared toward millennial girls embody MyDomaine, The Spruce, Byrdie, The Stability, and Verywell. It claims to succeed in over 100 million month-to-month customers. The division was initially known as About.com, a web site aggregating how-to articles on a whole bunch of varied subjects, which IAC acquired from The New York Instances Co. in 2012 for $300 million. (The Instances has purchased About.com for $410 million in 2005.) IAC rebranded About.com as Dotdash in 2017.
Within the deal, which closed Wednesday (Could 15), Greenhill & Co. served as monetary adviser to Condé Nast and Hughes Hubbard & Reed was authorized adviser.