From 2007 through 2009, Condé Nast, the publisher of Vogue, Vanity Fair and the New Yorker saw about $500 million in revenue disappear, a 30% decline, and posted a loss in 2009. In response, Condé Nast closed magazines, trimmed its famously large budgets and re-examined almost every tenet of its business. To pursue new areas of growth, Condé Nast's parent company, Advance Publications Inc., has set aside $500 million to invest in digital properties.
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