Categories: OLD Media Moves

Friedman: New Fortune ME doesn't fear competition

Marketwatch media columnist Jon Friedman interviewed new Fortune managing editor Andy Serwer about his plans for the magazine and came away impressed with his attitude toward the job and toward his competition.

Friedman wrote, “Serwer is a new breed of managing editor (the highest editorial designation at a Time Inc. magazine). He is the rarest of modern journalists — a triple threat who can excel as an Internet and magazine writer as well as a television analyst.

“Serwer has strengthened CNN’s morning programs by adding perspective to business and finance headlines. He is adept at translating the arcane world of business-speak for ordinary viewers.

“Portfolio is a concern because Fortune has traditionally been the leading business magazine for providing analysis. Time Inc.’s executives publicly acknowledge Portfolio by speaking in cliches (‘we welcome the competition’ and ‘competition is good for the industry’ are two of their favorites), but Serwer lifted the veil during our conversation.

“‘We’re going to prevail,’ he said. ‘I don’t know what their vision is. But I know what ours is: We do the best damned business journalism in the world.’

“Serwer went so far as to voice the unspoken fear of the magazine community, specifically involving mainstays Fortune, BusinessWeek and Forbes: that Portfolio’s emergence will cause a shakeout. ‘It’s possible that there isn’t room for four business magazines,’ Serwer said. ‘But I know that we’ll still be standing.'”