W Magazine’s editor-in-chief Sara Moonves has masterminded a buyout of the fashion glossy led by Karlie Kloss.
Other A-list investors include Kloss’ fellow supermodel Kaia Gerber, “Get Out” producer Jason Blum, F1 racer Lewis Hamilton, Peloton marketing exec Dara Treseder and LionTree’s Aryeh Bourkoff.
Sources told Page Six that as part of the deal, all W staffers are no longer furloughed.
The magazine will reportedly print one “aggregate print issue” for the rest of the year, which will be its annual New Originals issue this fall. Starting in 2021, W plans to resume publishing six times per year.
The new venture is called W Media, which will have a partnership with Bustle Digital Group.
It’s just the latest twist for W, which began as a sister publication to WWD at Fairchild Publications, before it was bought by Condé Nast. Last year, Condé Nast sold off W to Future Media — which also owns Surface and Watch Journal. Moonves was named the new editor, taking over for fashion vet Stefano Tonchi.
But in March when the pandemic hit, W’s staff was furloughed and publication was suspended, until Moonves hatched the latest chapter.