Condé Nast is all about diversifying as of late. The magazine giant has dipped its toe into the restaurant world, but its banking on its new entertainment division to bring in the big bucks.
Former CW president Dawn Ostroff will head up Condé Nast Entertainment. The company hopes to supplement ad revenue by developing television shows, films, and online programming around “personalities, articles, and general brands”. Explains Condé president Robert A. Sauerberg Jr.: “We think this is going to be a big business for us. We see a very broad approach. This is not necessarily about doing magazine shows. Dawn’s mission is to unleash our intellectual property, our talent, our ideas and find the right way to connect with audiences.”
TV and online projects will come first (Ostroff claims the digital channel thing “has never been mined before”), with movies to come in the future. There’s no doubt Condé is pissed they didn’t have the foresight to get in on the production side of the incredibly successful The September Issue. And not to rub salt in the wound, but Condé is pretty late to the game here. Playboy and National Geographic has been in the television and film space for years, and Hearst is a part-owner of A&E, Lifetime, the Biography Channel, and the History Channel.