Condé Nast will survive the shift of media online because for the most part they produce something that can’t be replicated online.
This is from a story in the NY Times last weekend:
“Condé also consistently sells more ads than its competitors and at higher prices, though some of its magazines make little or no profit. Even so, spending money to make money, and focusing on premium products to attract readers and advertisers, has clearly worked for more than a decade, though its margins are thin compared with those of its competitors. Condé executives say it generates close to $5 billion in revenue, has operating margins of around 10 percent and profits of about half that. Analysts and bankers say that Advance as a whole, which carries no debt, is worth, conservatively, $15 billion.”
Read more (here).