The Business of Magazines

[mepps]

Anna has her claws all over this. Can't wait for all the messy details to come out. Tonchi ruined W, so I'm not mad that he's out. I'm sure he'll bounce back somewhere, mediocre white men always do.

 

[vogue28]

if you guys watch the mini doc "the remaking of W" you can see Stefano had a vision...bad that the magazine was very bad and out of place but i don't think the new EIC has the same passion. Better the devil you know applies perfectly in this situation...

Thank you for bringing this to my attention, I had no idea of the mini documentary. For anyone else interested:

 

[Benn98]

Anna has her claws all over this. Can't wait for all the messy details to come out. Tonchi ruined W, so I'm not mad that he's out. I'm sure he'll bounce back somewhere, mediocre white men always do.

Well, it's really Bob who left his successors with this impossible situation. He should have restructured Tonchi's extravagant package. It's just not relative to a magazine like W, which doesn't even bring in big numbers and revenues. And I know some will probably bring up Tonchi's experience which is immense, I'll agree, but that's a double-edged sword. They paid him his worth for years and the magazine perished to its current pitiful state on his clock.

If I were CN, I would just pay him the money. Interview magazine gets the pass because it's a niche publication and Fabien Baron didn't go on an interview circuit. But I get the feeling Tonchi will, and the media will not let it rest. See Alber Elbaz vs Madame Wang. But I'm guessing CN must have some sort of secret weapon, that's why they're prepared to let this go to court.

 

[Xone]

Thank you for bringing this to my attention, I had no idea of the mini documentary. For anyone else interested:

You are welcome! hope you enjoyed

 

[GivenchyAddict]

I am just baffled by how much money he got for these years of catastrophic tenure at W. He should just stfu and feel ashamed.

 

[Xone]

" Tonchi is claiming his contract included a severance equal to one year’s base salary, which for him was “in excess” of $800,000 at the time of his termination. (In excess!) The lawsuit is asking for “not less” than $950,000. He was also allegedly promised a “closing bonus” of at least $130,000 for remaining in his role through the sale. Condé Nast’s artistic director, Anna Wintour, is mentioned in the lawsuit for allegedly telling Tonchi to perform his “usual duties” as recently as June 19, which he claims he did.

According to the Post, W magazine itself was bought for an amount ranging from $9 million to $10 million. If Tonchi gets what he’s asking for, he’ll walk away with about a tenth of that."

From The Cut

 

[Xone]

"The sale to Surface magazine owner Future Media Group closed on Monday. On Tuesday at 8 a.m. ET, Tonchi was called in to meet with Condé Nast Artistic Director Anna Wintour and a human resources representative and was then fired, according to a person familiar with the matter. The company announced W’s sale to staff and publicly at about 9 a.m.

The person said the cause for firing stemmed from actions Tonchi had taken to interfere with the sale."

So basically Anna fired Stefano. Ouch...

From BOF

 

[Benn98]

The Jussie Smollett saga has awoken a sense of skepticism in me. So far we are hearing a very one-sided version of events. Your move, CN.

 

[MON]

Oooh my bad, seems like this all for money then

Alexa, play Price Tag by Jessie J

 

[dodencebt]

So Anna is directly firing editors now? Interesting.

 

[tigerrouge]

Just imagine what will happen the day that Anna "resigns". Will she wisely decide when the time is right, backed up by an iron-clad contract, or will it be a supernova of a situation that will eclipse every other editorial sacking we've seen for the past century.

 

[MON]

I think Anna's wise enough to control her own narrative when the time comes (in the event she's sacked and not resigned). Unlike Tonchi.

I don't see her allowing her 20+ years of editorship be overshadowed by the fact that she was fired.

Also, really can't wait to see how this all plays out. Weren't there rumors that Anna didn't like Tonchi (or something to that extent)?

Will he drag them to filth? Though it might be sub judice

 

[Benn98]

Weren't there rumors that Anna didn't like Tonchi (or something to that extent)?

Yes, WWD alluded to that, and that she wanted him out. That was some time back.

I'm surprised that other than the interns, Tonchi is really the only major EIC to sue CN. The rest, Grace, Kirstie, Viktoriya, and I know very little about Diana's departure but I believe it was also messy.....none of them really sued, did they?

 

[MON]

Yes, WWD alluded to that, and that she wanted him out. That was some time back.

I'm surprised that other than the interns, Tonchi is really the only major EIC to sue CN. The rest, Grace, Kirstie, Viktoriya, and I know very little about Diana's departure but I believe it was also messy.....none of them really sued, did they?

None. Most kept quiet, some profitted from it (but in the most strategic manner — books/memoirs) never a lawsuit

The competitors of CN must be living because of this lawsuit. However, after all the smoke has cleared, what becomes of Tonchi (other than maybe richer)? No one wants to hire a man who has a tendency of suing a former employer.

Also please, as if the current state of W Magazine was not enough justifiable cause to lay him off. I mean you can argue that an EIC position is one of confidence.. and his performance is ground to lose the same

 

[GivenchyAddict]

I think Anna was happy to do this one as it is well known that she really despise Stefano

 

[MissMagAddict]

This thread.

 

[Deleted member 130879]

No one wants to hire a man who has a tendency of suing a former employer.

Seriously, if he really earned that much money in his tenure and if he gets 1 million, I don't seem him losing his sleep to unemployment. Can anyone really pity an unemployed millionaire?

 

[Benn98]

Ugh, don't make me choose!

Vulture: What did you think of the Met Gala and its choice of Camp: Notes on Fashion?
John Waters: I knew you would ask that. I wasn’t invited even though I was in every article. I wasn’t invited to the Comme des Garçons oneThe Met Gala’s 2017 theme was Rei Kawakubo and her brand Comme des Garçons. Waters is a notable Comme head, and wrote a chapter about Kawakubo in his 2010 book, Role Models. either. But I had the best of all worlds: I didn’t have to pay $40,000. I didn’t have to get in an outfit that I might’ve felt uncomfortable in. And I’m in every article about it. I didn’t have to go through all that or pay anything and got the same amount of coverage.

Vulture: Still, it’s wild that you weren’t invited to a show about camp.
John Waters: Well, do you think Anna Wintour is that funny? She’s an incredibly successful editor, but I’ve never heard her say anything that funny.

 

[Xone]

None. Most kept quiet, some profitted from it (but in the most strategic manner — books/memoirs) never a lawsuit

The competitors of CN must be living because of this lawsuit. However, after all the smoke has cleared, what becomes of Tonchi (other than maybe richer)? No one wants to hire a man who has a tendency of suing a former employer.

Also please, as if the current state of W Magazine was not enough justifiable cause to lay him off. I mean you can argue that an EIC position is one of confidence.. and his performance is ground to lose the same

Why tendency? He has done it before? i think this marks a precedent against big corporations...it's pretty clear if it's breach on contract he is in his own right to do it. I think it's not only for the money (of course it is), in part can be because of Anna and because of Ego and ultimately because he was mistreated.

But it's fair to listen the other part....at the end im sure they gonna settle outside courtroom...

 

[SophiaVB]

Ugh, don't make me choose!

Vulture: What did you think of the Met Gala and its choice of Camp: Notes on Fashion?
John Waters: I knew you would ask that. I wasn’t invited even though I was in every article. I wasn’t invited to the Comme des Garçons oneThe Met Gala’s 2017 theme was Rei Kawakubo and her brand Comme des Garçons. Waters is a notable Comme head, and wrote a chapter about Kawakubo in his 2010 book, Role Models. either. But I had the best of all worlds: I didn’t have to pay $40,000. I didn’t have to get in an outfit that I might’ve felt uncomfortable in. And I’m in every article about it. I didn’t have to go through all that or pay anything and got the same amount of coverage.

Vulture: Still, it’s wild that you weren’t invited to a show about camp.
John Waters: Well, do you think Anna Wintour is that funny? She’s an incredibly successful editor, but I’ve never heard her say anything that funny.

LOL