Brazil's Globo strikes Condé Nast deal

28 July 2010

Brazil’s largest media owner Globo has struck a deal with Condé Nast to create Brazilian editions of its glossy magazines.

According to the Financial Times, Brazilian editions of Glamour and GQ are expected to launch in the coming months.

Globo currently publishes 126 titles in 25 countries.

Condé Nast said the deal was part of a strategy to hold stakes, at least in part, wherever they publish magazines.

Jonathan Newhouse, chairman of Condé Nast International, which is based in London, said: “The revenues of the company as they stand today are about $35m to $40m and I would expect that to double in three years and triple in seven years.”

Brazilian law prohibits foreign companies from owning newspapers or magazines. Up until now, Vogue, the biggest Condé Nast title in the country, has been published on a license by the Carta family. This contract has now ended.
 

Marina Nelson, London