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When one door closes another opens as Conde Nast sells Fairchild Fashion Media, which includes Women’s Wear daily, to Penske Media Corporation for only a fraction of its original cost. This transaction to its new owner cost $100 million dollars for the digital media and publishing company. It’s a large drop in price compared to Conde Nast’s earlier purchase of Fairchild’s Fashion Media in 1999 for $650 million dollars from Disney. We are curious to see where the new company will take WWD.