Article: Red ink catches up with Conde Nast; Publishing's "spoiled brat' to feel budget ax.(NEWS)

Byline: MATTHEW FLAMM

Conde Nast has always been the magazine publisher with a lock on exclusivity and extravagance, as the hit documentary The September Issue makes clear. The frosty hauteur of Vogue magazine editor Anna Wintour, along with her no-expenses-spared photo shoots and fabulous client entertainments, can scarcely be exaggerated.

That particular September issue was in 2007. A documentary about the making of the September 2010 issue might look a little different.

Two months after consultants from McKinsey & Co. descended on Conde Nast headquarters at 4 Times Square, the division of privately held Advance Publications Inc. is preparing ...

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