Conde Nast Acquires Ideas Publishing Group

Posted on April 1, 2002

Conde Nast Publications, Inc., has acquired the remaining equity in Ideas Publishing Group (IPG), a Miami-based publisher of Spanish-language editions of major American magazines, it was announced by Carlos Modia, President of IPG, and Steven T. Florio, President and C.E.O. of Conde Nast. The Company had purchased a majority interest in IPG in January of 2001. Modia, currently President of IPG, will continue in that role. Mario Freude, founder of IPG in 1995 and former Chairman, will become Managing Director.

"We believe strongly in the growth potential of the Spanish-speaking publishing market and we fully support Carlos in continuing to operate a successful business," Mr. Florio said.

Ideas Publishing Group currently publishes nine titles, three in collaboration with Conde Nast, Vogue en Espanol, Glamour en Espanol, and Architectural Digest en Espanol, and six others under licensing agreements, Newsweek en Espanol, Discover en Espanol, Teen en Espanol, Prevention en Espanol, Motor Trend en Espanol, and Men's Fitness en Espanol. IPG's magazines reach a monthly audience of five million Spanish-speaking readers in nineteen Latin American countries and in the Hispanic market within the Unites States.

IPG will operate as a division of Advance Magazine Publishers, Inc. (AMPI). AMPI's divisions include Conde Nast Publications, Fairchild Publications, the Golf Digest Companies, the Conde Nast Bridal Division, Ideas Publishing Group, Parade Publications, and CondeNet.