{
  "id": 15369738,
  "title": "Condé Nast’s UK profits drop by more than a third as sale of Vogue publisher ruled out",
  "url": "https://urgent.news/2026/10/18/conde-nasts-uk-profits-drop-by-more-than-a-third-as-sale-of-vogue",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-18T07:00:53.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/media/2026/oct/18/conde-nast-uk-profits-drop-vogue-publisher-magazine-group"
  },
  "original_language": "en",
  "account": "Condé Nast, the luxury magazine group, reported a significant drop in profits for its UK arm, with pre-tax profits excluding exceptional items falling 36% from £28 million to nearly £18 million last year. The company's revenues in the UK also declined by 7%, from £75.9 million to £70.6 million, while international revenues rose by 18% to £29.7 million. Despite these challenges, Condé Nast maintains that it remains profitable in the UK for another year. The restructuring costs at the company, which includes popular titles like Vanity Fair, House & Garden, and Tatler, doubled year on year, reaching £4.3 million. The company attributed the restructuring charges primarily to severance costs. Despite these financial setbacks, the UK workforce remained stable, with only a slight decrease in staff numbers from 466 to 461 between 2024 and last year. The publisher, owned by the billionaire family, including Vogue and GQ, also ruled out a sale, with chair Steven Newhouse stating that Condé Nast has been a media owner for 100 years and is not in it for the glamour. Condé Nast's global revenues are primarily driven by its seven largest brands, which account for 85% of the company's revenue.",
  "summary": "Magazine group points to restructuring bill but says it ‘remains profitable in the UK for another year’ Profits at Condé Nast’s UK arm slumped by more than a third last year, according to figures published shortly after the billionaire family that owns the luxury magazine group and titles from Vogue to GQ ruled out a sale. The publisher, which enjoyed a bumper 2024 after booking £64m in proceeds…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "City AM",
        "title": "Condé Nast UK profits slump by more than a third as sale scrapped",
        "url": "https://urgent.news/2026/10/18/conde-nast-uk-profits-slump-by-more-than-a-third-as-sale-scrapped",
        "published": "2026-10-18T09:06:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}