Techrunch is reporting that magazine publisher Condé Nast has purchased the social news site Reddit. Condé Nast is the owner of a number of popular magazines suchs as Wired, Vogue, GQ, Glamour, Bon Appétit and the New Yorker.

I think this is a fascinating and smart acquisition by Condé Nast. We’ve already seen Reddit partner with media companies like Slate to create “Reddit” views of their data. The Slate experiment just sort of scratched at the surface of what might be possible if traditional publishers embrace social technologies.

For a publisher like Condé Nast the potential uses of Reddit technology are staggering. The publisher could create a single destination site where all the articles from its various publications are aggregated and voted on using Reddit technologies. Alternatively, Condé Nast could add Reddit views to the websites of all the magazines they own in order to provide a “social” view of the magazine’s content in addition to an “editor” controlled view.

I think this is a great move by Condé Nast. Look for Wired.com to serve as the testing ground for how the publishing giant incorporates Reddit into their other offerings.

Update: Check out the links below for more on this:

• Wired Acquires Reddit (instead of just white labeling it) – Read/Write Web
• Reddit Acquired: Interiew with Founders – Talkcrunch
• Wired Digital Acquires Reddit – Wired