Some hard-print publishers are actulaly adjusting to the notiion that just maybe this Internet, virtual-world stuff is here to stay.
Conde Nast made a move to fortify its position in the WWW with its subsidiary, Fairchild Fashion Media buying the Fashion Networks International to improve upon its web presence, the Luxury Daily reports.
Fairchild Media scoops up the popular fashion blog, NowManifest, which draws around 1.2 million unique visitors monthly, in the deal, and the company's exec-management team.
NowManifest features blogger clebs BryanBoy, Elin Kling and Anna Dello Russo. Additionally, the execs of FNI join Fairchild Media and will continue runnning NM.
Whether this transaction is a good one would depend upon the price Fairchild Media paid for it specualtes the Luxury Daily. According to industry insiders....
....“The acquisition makes sense in theory, yes,” said Al Ries, chairman of marketing consultancy Ries & Ries, Roswell, GA. “But, in practice, it would depend upon the price Fairchild paid. If the price is reasonable, then the acquisition is probably a good one since it is consistent with the luxury-market position Fairchild wants to dominate.