Washington Post reporter Paul Farhi, writing for the American Journalism Review about the new business magazine Conde Nast Portfolio, notes that editor Joanne Lipman is trying to make it different than any other business magazine.
“‘We’re not here to try and kill someone else,’ she adds. ‘We’re here because we’re true believers that there is a new way to look at business coverage and there’s room in the marketplace to do that.'”
Later, Farhi noted, “The larger questions, however, are why this magazine, and why now? Portfolio’s launch comes during a period of real heartburn for the major business titles. Fortune-×?’whose editorial approach is probably closest to Portfolio’s-×?’saw its ad revenue shrink 4 percent last year, according to the Publishers Information Bureau, and parent Time Warner has instituted a series of morale-sapping layoffs throughout its magazine division (see “Finding A Niche”). The trend since the bursting of the dotcom bubble and the September 11 terrorist attacks is even more chastening. Between 2002 and 2006, BusinessWeek lost 18 percent of its ad pages. Advertising at Fortune and Forbes is off 14 percent and 3 percent respectively during this same period.”
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