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October 13, 2009
Condé Nast is in the red, and the Newhouse trust is making up the difference. Keith Kellyreports the family, especially Si Newhouse and his $4 billion, is personally underwriting losses at the company and isn't happy about the media giant losing what some estimate to be close to $200 million. Though Condé CEO Charles Townsend insists losses aren't anywhere near that amount, he concedes that 2009 was a "very painful year" for the company that has laid off almost 400 workers (but launched a dating site). On Friday, Glamour
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