Folio: the Magazine for Magazine Management, March 1st, 1994
Conde Nast Publications has acquired a 25% stake in Wired for an undisclosed amount, estimated to be between 3$ million and $5 million. The funds will be used to finance its campaign to boost circulation and to open a sales office in New York, NY. Conde Nast stated that the company will remain as a passive investor in Wired and will forego any managerial or editorial involvement in its operations. After spending nearly a year searching for a passive minority investor to add a fresh infusion of funds, Wired found a most unlikely partner in Conde Nast Publications, a company not usually given t...
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