Condé Nast Portfolio, a classy mag, is dead. Even its web site will shut down. The enterprise had recently laid off staffers and cut its annual output to 10 issues from 12 in an attempt to forestall the reaper, but it appears the audience for an artisanal financial magazine with extensive lifestyle coverage is not what it was. Touchingly, Portfolio assigned its own media blogger, Jeff Bercovici, to report its demise. He resists the urge to embellish or analyze, dutifully transmitting editor Joanne Lipman’s terse explanation (“financial reasons”), and even carrying the silver lining — “Lipman said the magazine is ahead of its business plan on various business metrics, and also noted that it won a National Magazine Award last year after publishing only a handful of issues, a very [sic] accomplishment.” Apparently the proofreaders left first.
In tribute we pour out a 40 of office-fridge bottled water and throw some salt over our shoulder.