The days of wine and roses may soon be coming to an end.
As Condé Nast continues to take a pounding, with ad pages off 30 percent to 40 percent in many titles, some industry observers are expecting that the perks doled out to the highest-ranking executives and chief editors among the most lavish in the industry may be the next to take the hit. The Advance Publications empire has always been founded on two basic rocks, the glitzy magazine wing of Condé headed by Chairman S.I. Newhouse Jr., and the newspaper side, headed by his brother, Donald Newhouse, the president of Advance.
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booo hoooo…………