RIP: Portfolio

After two years:

Condé Nast will cease publication of Portfolio effective with its May issue and Portfolio.com will close in the second quarter of the year, it was announced today by Charles H. Townsend, President and CEO of Condé Nast.
“The pressures and realities of the continuous deep economic slump have lowered Portfolio’s revenue projections below what is needed to continue publication,” Mr. Townsend said. “Portfolio was an ambitious and innovative magazine and website, and we were proud to publish them. The challenges facing this launch however proved too great. Joanne Lipman is an extraordinarily skillful editor and William Li is a very talented publisher. We thank them and their staffs for their tremendous efforts. It is unfortunate we were unable to give Portfolio the time needed to fully mature.”
Portfolio and Portfolio.com were launched in May 2007. The magazine has published 21 issues since its launch. The magazine received a National Magazine Award in 2008 and has been nominated for multiple awards since.

I feel bad for Ryan Avent, an excellent blogger they had just hired.

Posted by on April 27th, 2009 at 10:56 am


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