Newspapers, Bloat Behind Portfolio's Demise?

Rumors of problems at Portfolio began long before the Conde Nast business magazine folded Monday. Media watchers have been obsessively analyzing Portfolio’s every move since the title launched in April 2007 and much of the criticism has focused on editor-in-chief Joanne Lipman. Observers say Lipman, who came to Portfolio by way of the Wall Street Journal had a troubled relationship with her staff, spent too much money, and didn’t get the Internet. According to others inside the embattled business book, Portfolio’s demise may have also stemmed from poor planning and organization, a missed opportunity with its critically-lauded Web site, and falling newspaper revenues at Conde Nast parent company Advance Publications.