Categories: OLD Media Moves

Portfolio's launch will have extravagant spending

Women’s Wear Daily reporter Stephanie Smith compared the launch of business magazine Conde Nast Portfolio to a first-born baby. The parent will spend a ton of money making sure the first few years are as comfortable as possible.

Smith wrote, “Over its year-and-eight-month development, Portfolio no doubt will receive as much money, manpower and corporate cuddling as it needs to thrive and succeed. Reports have said the company will pour $100 million into its launch, although Condé Nast has not confirmed that number.

“While most insiders interviewed weren’t envious of Portfolio’s financial backing (or claimed not to be), some understand how old-fashioned sibling rivalry could develop. It’s no secret Condé Nast puts big money into marketing, promotions and talent development for any launch, be it the failed men’s monthly Cargo or the home shopping title Domino. And while money to fund start-ups rarely comes from the budgets of more established titles, some executives may want the same loose spending allowances as the new kid. ‘I’m sure that when Cargo launched, the editors of GQ were saying, ‘Wow, they get to do everything.’ Maybe now Details is saying that about Men’s Vogue,’ said one source.”

Read more here.

Recent Posts

Dynamo hires former Business Insider executive editor Harrington

Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…

2 days ago

Bloomberg TV hires Kerubo as desk producer

Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…

2 days ago

Jittery CNBC staff reassured by new boss

In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…

2 days ago

Making business news accessible to a wider audience

Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…

2 days ago

Rest of World hires Lo as China reporter

Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…

2 days ago

Bloomberg rises to No. 7 biz news website

Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…

2 days ago