Switch of MEs at Fortune aimed to rebuild brand

Matthew Flamm of Crain’s New York writes that the decision to change managing editors at Fortune by parent Time Inc. signals that the parent company is trying to stem some of the issues that the glossy has recently faced.

Flamm wrote, “Fortune needs to crank it up. Portfolio‘s arrival will mean a tougher environment for Forbes and BusinessWeek. But Fortune — which emphasizes the long-form journalism that Portfolio plans to showcase — can expect to battle the Conde Nast title most directly.

“Not surprisingly, Portfolio lured away three top Fortune staffers as part of a hiring spree ahead of its launch. None of its personnel have come from BusinessWeek or Forbes.”

Later, Flamm added, “But Fortune, as part of a publicly held company, will have fewer resources and less flexibility than privately owned Portfolio.

“‘The question ultimately is how much Time Inc. will put into Fortune competing against Portfolio, versus all the other issues it has to deal with,’ says magazine consultant Peter Kreisky.”

Read more here.