The new Conde Nast business magazine will be called “Portfolio,” and the first issue will be published for May 2007, according to an article in the New York Times on Monday. Its slogan will be “business intelligence.”
Reporter Katherine Seelye wrote, “Of CondÃ© Nast’s magazines, only a few â€” Wired, The New Yorker, Golf Digest and CondÃ© Nast Traveler â€” attract much business advertising, and CondÃ© Nast Portfolio is intended to fill that void. ‘This is a place where business advertising can find a home,’ Mr. Wallace said.
“Not only that, but adding CondÃ© Nast Portfolio to CondÃ© Nast’s portfolio is expected to help the company attract high-end advertisers who already have established relationships with its other high-end magazines. Portfolio expects men to account for 60 percent of its readership and for the median age of all readers to be 42, making the company, now heavy on women’s publications with fashion and beauty advertising, more appealing to a broader base of national advertisers.”
“The company, which could spend $100 million on the magazine before it becomes profitable, was so eager to get into the category that it initially considered buying Forbes, but it decided that it could start a new magazine for less.”
Read more here. The article states that the magazine could have 75 to 100 editors and writers. Among its current staff are Blaise Zerega, the managing editor of Wired, as managing editor, and Jim Impoco, the former Sunday Business editor of The New York Times, as a deputy editor.