https://boingboing.net/2018/08/02/conde-nast-selling-off-mags-af.html
What a shock to their system, eh?
More here:
https://www.businessoffashion.com/articles/news-analysis/facing-losses-conde-nast-plans-to-put-3-magazines-up-for-sale
Conde Nast hasn't been well managed for a long time.
Example: they couldn't keep Gourmet Magazine afloat even though "recipes" is one of the busiest search categories on the web.
They likely have more overhead baggage than most. As we've seen, online revenues will not sustain an old-school print media business.
A. What of value does CN have other than magazines?
B. In which century were those magazines still worth $120,000,000?
>A
Reddit
<added>
It's owned by CN's parent company.
<time warp>
Oh yeah, this is going to work.
Conde Nast plans to charge advertisers a premium for digital subscribers - Business Insider
https://www.businessinsider.com/conde-nast-plans-to-charge-advertisers-a-premium-for-digital-subscribers-2019-1
Clueless
Will Condé Nast As We Know It Exist in a Decade?
http://nymag.com/intelligencer/2019/10/will-cond-nast-as-we-know-it-exist-in-a-decade.html
Note the question mark, so the answer is 'No.'