Apple is rumored to be interested in purchasing media company Condé Nast, home to magazines including Vogue, Vanity Fair, Wired, The New Yorker, GQ and more.
However, company CEO Bob Sauerberg says that company is, “not for sale.”
The business is valued at between $1-$2 billion, and has been hit by falling print sales in recent years. Condé Nast is said to be embarking on a new round of cost cutting to reduce spending. In the U.S., its business is reportedly losing $100 million per year, while its overseas operations are marginally profitable.
Apple’s print media ambitions
Apple has been pushing more and more into original content as of late as a way to grow its Services division. In addition to original TV content, Apple is also showing a renewed interest in publishing.
Recently the company acquired Texture, a $9.99 per month subscription digital magazine service, much like an Apple Music or Netflix for magazines. Apple is reportedly planning to use this to give its Apple News app an overhaul by offering a large collection of magazines for a fixed monthly price under Apple branding.
“Apple tipped their hand with their recent acquisition of Texture,” noted Apple analyst Gene Munster. “They would not have done that if they were not interested in print.”
Hey, at the very least it might mean some more Apple-focused print media with genuine exclusives!