The publication, which runs in print during Fashion Week and online daily, is being sold to its editor, Branduso Niro. Niro would not say if she has backing in the deal but that she does have a controlling stake. The sale seemingly explains the recent staff shuffling; DFR has sixteen full-time employees year-round, and a total of 30 during Fashion Week. Niro says the publication is profitable: “The margins in publishing are not huge, as everybody knows, but we’ve been able to hang in there very nicely through the years of recession.” Forbes’s Jeff Bercovici suspects the publication’s “not huge” profits are why IMG wanted to sell it.
IMG Sells The Daily to Founder; Name Dispute Still Unresolved [Forbes]