Condé Nast to launch monthly business magazine: Geez. I was doing all that praising of David Carey the other day and now he ups and becomes head of a new business group at Condé Nast that will be launching a monthly business magazine and website at some point in the future with a name as yet to be determined (see vaporzine).
Quote from MediaWeek.com:
While Condé Nast recently has been on a launching spree–rolling out Lucky, Cargo, and Domino–a business magazine takes the fashion publisher in a whole new direction. And though it owns Wired, Condé Nast will now take on a tough advertising challenge. Its soon-to-be rivals Forbes, Fortune and BusinessWeek have all had tough times with regard to advertising and circulation.
I guess accepting Wal-Mart ads in Vogue is providing the company with the cushion necessary to assume such a “tough advertising challenge.”
Also, I would like to take this opportunity to express publicly my appreciation to Condé Nast for not announcing plans to launch a weekly celebrity magazine.
Update: Condé Nast press release.
Update II: Quote from AdAge.com:
(The launch) comes at a time when the business category is generally struggling more than consumer titles but Mr. Carey said making a long-term committment matters more than trying to enter a category at precisely the right moment. “‘Is the category up x points or down x points’ is not really the question,” he said. “What is the right day? It’s always unclear. With the right editor and the full resources committed you can build a big business.”
Update III: Quote from BusinessWeek:
The as-yet-untitled magazine won’t launch until 2007, says David Carey, the current publisher of Condé Nast’s The New Yorker who’ll become the president of the new division. It is possible, however, that Web sites may launch before the magazine. The new unit is ultimately expected to resemble its corporate sibling, the Golf Digest Companies, which in addition to its flagship title publishes smaller magazines like Golf Week and Golf for Women, and operates ancillary businesses like custom publishing and conferences.
Update IV: Quote from the NY Times:
(Carey) said he was not worried about starting a business magazine when other business publications were having a hard time. “I’m not sure there ever is an ideal time to launch a new magazine,” Mr. Carey said. “You can build a great magazine and a marketplace will build around it.”
rexblog trivia: David Carey appeared in an Apple “switch” print ad.