Caruso no longer at Portfolio

Irin Carmon of Women’s Wear Daily reports Wednesday that Michael Caruso, an editor who helped new business magazine Conde Nast Portfolio get off the ground, is no longer at the publication.

Carmon wrote, “Caruso signed on last year as a contributing editor at large at Portfolio and came back as planned from a two-week vacation on Monday, but by the end of the day, staffers were told his contract hadn’t been renewed. A spokeswoman for the magazine said he joined the title to work on the launch and then signed a six-month contract, and that the decision was mutual.

“Caruso, who was editing some of the longer features in the magazine and who launched a self-funded video aggregation site in June, did not respond to requests for comment on Tuesday. But sources at the magazine interpreted the move as a further shift of power away from traditional magazine types toward hires from The Wall Street Journal, Portfolio editor in chief Joanne Lipman‘s alma mater and a popular poaching ground for hires, particularly after the sale of the Journal’s parent company to News Corp.”

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