Today's New York Times says that publishing giant Conde Nast is beefing up its online bridal presence. Conde Nast owns the largest bridal magazines. Part of the reason given was the success of The Knot Inc. (NASD:KNOT), a stock we wrote about last week and felt was trading too high due to competitive risks.
Conde Naste's entry into this business is likely to make The Knot's life a lot more difficult.
Douglas A. McIntyre is the former Editor-in-Chief and Publisher of Financial World Magazine. He was also president of Switchboard.com when it was the 10th most visited site on the internet, according to MediaMetrix. He has been on the boards of TheStreet.com and Edgar Online. He does not own securities in companies he writes about.