Exclusive: Condé Nast hires Quyen Du for new role pursuing M&A
Condé Nast has hired Quyen Du, formerly of Fandom and NBCUniversal, as senior vice president, strategy and corporate development.
Why it matters: This new role is tied to Condé Nast's efforts to explore potential M&A, joint ventures, investments and other new initiatives.
- "We are at a stage in our evolution where M&A and business development are a more prominent focus than ever before. It's a dynamic market in media and we are ready to capitalize on our strengths within it," CFO Jackie Marks wrote in an email to Axios.
Details: Du started Tuesday and reports to Marks.
- Du was most recently vice president, head of corporate development at pop culture and entertainment company Fandom. She held similar roles at NBCU, Disney, and Showtime.
- Condé's most recent M&A has centered around tech companies, such as Ribyt and CitizenNet in 2017, as opposed to magazine titles.
Of note: CEO Roger Lynch, who started at Condé in 2019, has repeatedly mentioned M&A interest in recent press interviews.
- In a December New York Times story, Lynch said Condé has a "very thoughtful and compelling plan that takes us to 2026" that includes "looking at acquisitions, partnerships, all things that require capital."
- "We are definitely starting to turn our sights externally and consider M&A," he told the Wall Street Journal in February.
- The Sunday Times reported in April that Lynch considered buying The Athletic, now owned by NYT.