• by Melynda Fuller , August 14, 2020

A group of investors has taken control of fashion magazine W in a new deal that taps Bustle Digital Group (BDG) as the brand’s operating partner. Under the terms of the agreement, BDG will provide the title with supporting technology, sales and operation.

Model Karlie Kloss, movie-television producer Jason Blum, CEO of Blumhouse Productions, race-car driver Lewis Hamilton and fellow model Kaia Gerber are leading the investor efforts, report several outlets. The group was brought together by W’s editor Sara Moonves.

Following the acquisition, the brand will be renamed W Media and expand its offerings to include a contributor network and new content initiatives, while bolstering preexisting franchises. It will focus on diverse voices and “more equitable representation in the industry,” the company told Variety.

BDG CEO Bryan Goldberg will serve as W Media’s managing partner.

W last changed hands in 2019, when Future Media Group bought it from Conde Nast. Moonves was tapped as the title’s EIC upon acquisition and became its first female head editor in 47 years.

In March, Future Media Group CEO Marc Lotenberg suspended the title’s publication and furloughed the staff, given fallout from the COVID-19 pandemic. W plans to publish six print issues a year and has brought back its furloughed staff. A single aggregate issue will print in 2020.

W originally launched as a sister title to WWD in 1972 and joined Conde Nast in 1999 when Advanced Publications bought Fairchild Publications.

BDG previously acquired style and pop-culture title Nylon last summer with the intention to “invest heavily in expanding Nylon’s editorial team and advancing its strength in live experiences.” It planned to relaunch its print edition for special events like Coachella, Goldberg stated at the time. Nylon went digital-only in 2017.

BDG is also home to The Zoe Report, Bustle, Romper and Mic.