Wagadon Reclaims Control Amid Sell-Off Rumours
Wagadon, publisher of the Face, Arena and Frank, is subject to speculation that it may be put up for sale in the near future following its restoration of self-ownership. Another consumer publisher, Condé Nast, has sold back the 40% stake which it held in Wagadon to Nick Logan, editorial director and already 60% owner of the Arena publisher.
Condé Nast has owned the stake in Wagadon since 1988, but it is understood that Logan wished to have back full control. Wagadon today denied rumours that it is up for sale.
Wagadon’s reclamation of the 40% stake comes as its women’s monthly title, Frank, is reduced to a quarterly publication following poor circulation figures (see Newsline).
| Wagadon Titles ABC Period On Period Comparisons Jul-Dec’98 | ||||
| Title | Jan 98 – Jun 98 | Jul 98 – Dec 98 | Actual Change | % Ch |
| Arena | 65,010 | 60,949 | -4,061 | -6.2 |
| Face | 78,173 | 71,381 | -6,792 | -8.7 |
| Frank | 41,548 | 37,233 | -4,315 | -10.4 |
| Total | 184,731 | 169,563 | -15,168 | -8.2 |
Wagadon’s other two titles – the Face and Arena, also suffered losses in circulation according to the last ABC audit. Compared to the previous period, Arena’s circulation fell by 6.2% during July-December ’98, an actual loss of 4,061 net sales. The most popular of Wagadon’s titles, the Face, lost over 6,700 net sales – 8.7%.
Nick Logan commented: “Condé Nast’s involvement in Wagadon has been important to the company’s development. But we are now at a stage when it makes sense to have back full control, so enabling me to determine how that development will continue. Condé Nast has been understanding of that aim, and I’m grateful to them for helping make the buy-back possible.”
Wagadon: 0171 689 9999 Condé Nast: 0171 499 9080