Portfolio to cut two issues

Peter Kafka of All Things Digital reports Thursday that Conde Nast Portfolio will cut two issues out of its publishing schedule as part of its parent company’s cost-cutting efforts.

Kafka reports that the monthly business magazine, which launched in 2007, will cut 5 percent from its editorial budget. The December and January issues will be combined, as will the June and July issues.

Kafka writes, “Recall that just two days ago Conde Nast publisher David Carey was expressing (guarded) optimism about advertising budgets next year. I’m guessing that if he were less optimistic, the cuts would be even larger.

“And what about CondeNet, the Conde division that handles Web properties for some, but not all, of the publisher’s magazines? No comment, but one might imagine Sarah Chubb’s unit will be cutting back, too.”

Read more here.