>> Could Elle Be Joining the Conde Nast Portfolio? —Some are speculating that Conde Nast's across-the-board 25 percent cutbacks are not just for the sake of downsizing budgets, but also to prepare for a bigger move. In his company-wide memo sent out Monday, CEO Chuck Townsend stated: "The [McKinsey] review has led us to a number of decisions designed to navigate the company through the economic downturn and to position us to take advantage of coming opportunities." Rumors abounded earlier this year that Elle was on the block, with Bazaar publisher Hearst interested, but now "industry insiders are buzzing about Conde Nast possibly acquiring Elle in its quest to fill their lineup with broader offerings," reports Fashion Week Daily. [FWD]
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