According to Women's Wear Daily, sources close to Condé Nast say that the company may acquire San Francisco-based shelter/architecture magazine, Dwell. Although Dwell's publisher and president, Michela O'Connor Abrams, told WWD, "I have not been involved in any discussions with Condé Nast," and a spokesperson for Condé Nast declined to comment, it is well known that Condé Nast chairman S.I. Newhouse Jr. is a fan of the independent magazine. "One person familiar with the negotiations said they began in December and quoted the figure of $30 million as an asking price," says WWD.
Condé Nast owns two other shelter magazines, Domino and Architectural Digest, and folded House & Garden, a title launched in 1901, this December. Considering all of the pruning of shelter magazines these days, including Blueprint, I am anxious to see whether this pans out. Though small (with a monthly circulation of 325,000), Dwell had ad revenues of $45 million last year and has a solid following in the shelter world, so it seems to be an desirable purchase. Do these rumors surprise you?