Supermodel and Project Runway host Karlie Kloss is leading an investors group that has acquired W magazine.
The consortium behind the new joint venture, W Media, includes Jason Blum, Lewis Hamilton, Kirsten Green and Dara Treseder, Kaia Gerber, Lion Tree's Aryeh B. Bourkoff and Copper.
W magazine editor-in-chief Sara Moonves will continue to run the luxury media magazine. "Through our amazing editorial and original content, I’m excited to engage our audience in new ways and bring new members into the fold as we expand our global footprint across the ever evolving digital media landscape while upholding W’s legacy as a foremost leader in art, culture and fashion," Moonves, the daughter of former CBS head Les Moonves, said in a statement.
Bustle Digital Group (BDG) will handle sales and operations for the new magazine brand, with BDG CEO Bryan Goldberg serving as managing partner. Due to the impact of the COVID-19 pandemic, W is planning one print issue for the rest of 2020, and starting in 2021 will resume a regular schedule with six print issues annually.
Kloss was represented by Greenberg Glusker.