LATimes editor leaves for Portfolio

Amy Wallace, the deputy business editor of the Los Angeles Times, is leaving the newspaper later this summer to become a senior writer at Conde Nast Portfolio, the new business magazine slated to begin publishing in 2007, according to Women’s Wear Daily.

Sara James reported, “Wallace, who is a veteran at covering the entertainment industry, was previously at Los Angeles magazine, where she wrote a profile of Daily Variety’s editor in chief, Peter Bart, that was a finalist for a National Magazine Award. She also has written for The New Yorker, Vanity Fair, Esquire, The Nation, The New York Times Magazine, Details and Elle. In a staff memo posted on Laobserved.com on Monday, LAT business editor Russ Stanton said, “Suffice to say this is a big loss for us.” Portfolio gets Wallace after Labor Day. She will continue to be based in Los Angeles.”

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Previously, she was a reporter at the Atlanta Journal-Constitution, where, among other things, she covered prisons and death row. Wallace began her career as an assistant to James Reston, the New York Times columnist, after graduating with a B.A. in history from Yale. Her work has appeared in the New Yorker, Vanity Fair, The Nation, The New York Times Magazine, Details, Elle and other national publications.