Conde Nast Portfolio publisher William Li defended the magazine’s editor in chief, Joanne Lipman, who has been criticized for her management of the editorial content of the now-defunct magazine, to New York Observer reporter John Koblin.
Koblin writes, “‘She changed business journalism,’ he said. ‘Portfolio changed business journalism. The whole idea of writing breathlessly glowing profiles of CEO, we didn’t play that game. And you know what, good for her. And good for John Cassidy and Jesse Eisinger,’ he said, referring to the magazine’s contributing editor and senior writer.
“‘I’m proud of the fact that in our first year we won a National Magazine award,’ he continued. ‘Business Week and Fortune? Please, that never happened. We were just nominated for two Webbys!’
“It’s unclear right now whether staff will stay within the company—there is a plan to keep as many people as possible—though editor-in-chief Joanne Lipman is out at Condé Nast, according to one source. According to a Portfolio staffer, some have taken to toasting the news of the magazine’s closure with a Stella Artois—the official beverage of magazine closings.”
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