Condé Nast Settles Lawsuit; Paying Interns $5.8 Million

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Mass Media company CondĂ© Nast canceled its internship program in 2013 after a class-action lawsuit was filed by thousands of former interns at the publisher who said they were underpaid for work at the company’s high-end magazines. Last April, CondĂ© Nast announced that it had settled its class-action lawsuit. At the time, the specific settlement amount was still being negotiated.

It was just reported that the publisher agreed to pay $5.8 million, or roughly $700 to $1,900 per intern, according to Reuters.

CondĂ© Nast agreed on Thursday to pay $5.8 million to settle a class-action lawsuit brought by thousands of former interns at the publisher who said they were underpaid for work at the company’s high-end magazines. The settlement agreement, filed in U.S. District Court in New York, covers around 7,500 interns at CondĂ© Nast magazines like Vogue and Vanity Fair. The case is one in a wave of recent suits brought against media and entertainment companies that pay little or nothing for internships,” reported by Reuters.

CondĂ© Nast Chief Executive Officer Chuck Townsend, said in the email that he still believed that company’s magazine internships “were among the best in the media business.”

He then added, “Settling the lawsuit is the right business decision for CondĂ© Nast, as it allows us to focus our time and resources on developing meaningful, new opportunities to support future up-and-coming talent.”

CondĂ© Nast is home to some of the world’s most celebrated media brands including Vogue, Allure, Details, Glamour, Vanity Fair, W, GQ, Lucky, and more. The company also owns Fairchild Fashion Media (FFM) and its portfolio of comprehensive fashion journalism brands: Beauty Inc., Footwear News, M, Style.com and WWD.

Photos Credit: Condé Nast

Source: Reuters

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.