Portfolio stories ending up elsewhere

Keith Kelly of the New York Post writes Friday about how stories slated to run in the now-closed Conde Nast Portfolio are appearing in other publications.

Kelly writes, “An article about the sons of convicted Ponzi schemer Bernie Madoff by David Margolick was originally set to run in Joanne Lipman‘s Portfolio, but when S.I. Newhouse Jr. pulled the plug on the business magazine earlier this spring, the story, which had already been edited, ran instead in the current issue of Vanity Fair.

“‘Yes, the piece was done for Portfolio and was virtually finished when the magazine folded,’ said Margolick. ‘The managing editor, Jacob Lewis, told me that I could take the story somewhere else — the normal rule is that they’d have owned it for a few months — and that very day I sent it to [Vanity Fair Editor] Graydon [Carter], who quickly said he’d like it.’

“Margolick, who left Vanity Fair 2½ years ago to join Portfolio, said he still owed VF a story under his old contract, and Carter let the Madoff sons story settle up that debt. He also said he’s accepted a job at Newsweek and starts there in September.

“Meanwhile, last Sunday the front page of the business section of The New York Times featured a story about the Yellowstone Club by Amy Wallace, another contributing writer from Portfolio.

“That story, too, was slated to run in Portfolio.”

Read more here.