Conde Nast Consolidates Digital Assets to Form Digital Unit.

New unit increases scale and efficiency for advertisers

NEW YORK -- Conde Nast is consolidating all of its digital assets into a single unit called Conde Nast Digital (CND), it was announced today by Charles H. Townsend, President and C.E.O. of Conde Nast. Sarah Chubb, formerly President of CondeNet, will be President of the new digital unit, reporting to Mr. Townsend.

This new unit creates a more efficient way for the company to leverage its digital business and combine that with the unique vertical opportunities it brings to advertisers. The move also allows for a more streamlined approach to growing revenue across the company's digital assets as well as aiding print ad sales through the integration of on-line and print sales and marketing.

Digital media buyers will now have a more efficient way to work with Conde's digital assets through a dedicated sales team. Corporate level advertisers will be able to address digital commitments and opportunities with Conde Nast Media Group (CNMG) Sales Directors as part of their overall relationship with Conde Nast. The CND unit will incorporate the CondeNet sites including Epicurious.com, NutritionData.com, Concierge.com, HotelChatter.com, Jaunted.com, Style.com, Men.Style.com, Wired.com, Reddit, Ars Technica, and Webmonkey, as well as the individual magazine branded websites, and Brides.com, a bridal destination site. WWD.com will remain part of the Fairchild Fashion Group, the Company's B2B unit.

"This move is really a convergence of our strong individual digital businesses into the larger Conde Nast media company," Mr. Townsend said. "Unifying all of our valuable digital assets under this direction maximizes the strength and scale of our digital offering and also enhances their critical contribution to the power of our print businesses. This is a growth based consolidation, not a cost cutting consolidation."

"In today's marketplace advertisers are looking for substantial scale, ease of buying, and the ability to measure user engagement," Ms. Chubb said. "Combining all of the company's digital assets under one umbrella allows Conde Nast to have the unique advantage of possessing all three of these essential components."

"This consolidation and alignment of our assets allows The Conde Nast Media Group to maximize our revenues and bolsters our position as a formidable player within the multi-media arena," said Richard Beckman, President, Conde Nast Media Group & CMO, Conde Nast.

Conde Nast, a unit of Advance Publications, includes twenty-four consumer magazines, Conde Nast Digital, the Fairchild Fashion Group, Parade, the Conde Nast Media Group, and the Shared Services Centers.