Karlie Kloss and Kaia Gerber Among New Owners of W Magazine Following Buyout

The two runway beauties join a group of investors that include race car star Lewis Hamilton and movie producer Jason Blum to acquire the fashion publication.

AceShowbiz - Models Karlie Kloss and Kaia Gerber are among the new all-star owners of W Magazine after buying out the publication.

The "Project Runway" host and Cindy Crawford's daughter join race car champion Lewis Hamilton and film producer Jason Blum among those involved in W Media, the investors group that acquired the hip fashion title.

W Magazine editor-in-chief Sara Moonves, the daughter of former CBS television network head Les Moonves, will continue to run the luxury publication and is delighted about the new ownership.

"Through our amazing editorial and original content, I'm excited to engage our audience in new ways and bring new members into the fold as we expand our global footprint across the ever evolving digital media landscape while upholding W's legacy as a foremost leader in art, culture and fashion," Sara wrote in a statement to The Hollywood Reporter.

Due to the coronavirus pandemic, only one more print issue will be published in 2020, with W Magazine resuming its regular schedule of six print issues per year from 2021.

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