In a newly-formed venture called W Media, Bustle Digital Group will oversee sales, business, and technology for the new era of W Magazine, which has just been acquired by a group of high profile investors. Sara Moonves, the glossy’s first female editor in chief in its 50-year history, assembled the group, led by model and entrepreneur Karlie Kloss. Other celebrity investors include fashion fixtures Lewis Hamilton and 18-year-old Kaia Gerber.
Kirsten Green, a venture capitalist who notably bet early on Glossier and Warby Parker, Dara Treseder, the SVP, head of global marketing and communications at Peloton, film and TV producer Jason Blum, and investment banker Aryeh B. Bourkoff are also among the investor group.
“We did it all over Zoom,” Moonves told the New York Times. “None of us even met in person.”
According to a release, the joint ownership will allow the legacy print magazine to scale rapidly in the digital space. Diversity and equality will reportedly be front and center when it comes to new content initiatives and scouting next generation talent in art, entertainment, fashion, media, and pop culture.
W is planning one print issue for the remainder of 2020, with its annual The New Originals issue also publishing in the Fall. From 2021, W will resume a regular schedule with six print issues annually.
Moonves will remain editor in chief, with Kloss will work closely alongside her to drive strategy and growth for the new venture. Meanwhile Bustle Daily Group chief executive officer Bryan Goldberg will serve as Managing Partner.
“I am so honored to continue to lead the incredible team at W,” Moonves said. “Through our amazing editorial and original content, I’m excited to engage our audience in new ways and bring new members into the fold as we expand our global footprint across the ever evolving digital media landscape while upholding W’s legacy as a foremost leader in art, culture and fashion.”
Sara Moonves (Patrick McMullan/PMC)
“I am so honored to continue to lead the incredible team at W,” Moonves said.
“Through our amazing editorial and original content, I’m excited to engage our audience in new ways and bring new members into the fold as we expand our global footprint across the ever evolving digital media landscape while upholding W’s legacy as a foremost leader in art, culture and fashion.”
In a separate release, W Magazine unveiled dual covers for Vol. 3 The Music Issue, featuring rapper Megan Thee Stallion and pop star Dua Lipa. Saweetie, Thierra Whack, Rico Nasty, and Doja Cat will also appear in the issue, which will hit newsstands on 8/25.
The issue had been shot in March, but the magazine’s staff were all furloughed and production was halted for reasons related to the spread of COVID-19.
W Magazine, originally launched in 1972 by Fairchild Publications as a spinoff of Women’s Wear Daily, was bought by Condé Nast in 2010. It was sold to Future Media last June for a reported $7 million, prompting then-editor in chief Stefano Tonchi to resign.
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2 comments
I think this is just great news. I love this disruptive magazine and all its quirks and fun.
Reflecting on the significant event of August 14, 2020, I recall the wave of enthusiasm that swept through the media and fashion world when it was announced that a group of high-profile investors, including the iconic Karlie Kloss and Kaia Gerber, had acquired W Magazine. The formation of W Media, under the supervision of Bustle Digital Group, marked a milestone in the magazine’s history, promising a new era of digital innovation and growth.
Sara Moonves’ vision, the first female editor-in-chief in the publication’s history, was instrumental in bringing together this diverse and talented group of investors. The decision to conduct the entire process over Zoom reflected the reality of an era defined by the pandemic and adaptability. The promise to focus on diversity and equality in content initiatives and in scouting the next generation of talent in art, entertainment, fashion, media, and pop culture resonated strongly in a world crying out for change and inclusion.
The commitment to continue with a print edition in 2020, followed by the resumption of a regular schedule of six issues annually from 2021, was a testament to W Magazine’s dedication to its legacy while embracing the digital future. Karlie Kloss’s collaboration on strategy and growth, along with the operational experience of Bryan Goldberg from Bustle Digital Group, promised to take W Magazine to new heights.
As a witness to this transformative moment, I can say that the acquisition was not merely a commercial transaction; it was a cultural movement. It represented a fusion of fashion, art, and technology, driven by figures who were not only icons in their respective fields but also visionaries willing to reshape the media landscape. W Magazine’s music edition, with Megan Thee Stallion and Dua Lipa gracing the covers, was a clear indicator of the bold and creative direction the magazine was taking.
As we move towards mid-2024, the influence of that day remains palpable. W Magazine has continued to evolve, maintaining its position in art, culture, and fashion, while expanding into the digital space and continuing to celebrate diversity and creativity in all its forms.