Conde Nast Steps into Social Media

The Wall Street Journal looks at Conde Nast’s development of a social networking site to rival MySpace.

What I like about the article, is its subtlety:

“With readers migrating to the Web in droves, all magazines are under tremendous pressure to come up with Internet strategies, or face oblivion.”

But it gets better. Conde Nast is:

“…taking steps to avoid becoming just another old-media outcast on the Internet.”

The article is an interesting look at how they are trying to carefully position the new site, with hopes of sharing in a small percetage of MySpace’s universe.

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