W magazine gets new ownership

Adweek reports that Condé Nast has sold fashion magazine W to Future Media Group. The former Surface Media holding company will now include brands Surface, Watch Journal and W and will position itself as a portfolio of luxury brands.

This is the third title Condé Nast has sold in the past month. In May, the publisher said it was selling Golf Digest to Discovery Inc. and Brides to Dotdash. W's editorial staff will temporarily stay at One World Trade Center.

The new group will continue publishing eight issues of W per year and expanding the brand's digital and experiential reach. Future Media Group will have offices in Paris, Milan and New York and will soon also have an outpost in LA.

Read the full story on Adweek.