By Daily Crux Editor Brian Hunt:
Condé Nast - the publisher behind Vogue and Wired - is shutting down its high-profile financial magazine called Portfolio. We didn't "Crux" the magazine much because it was full of gloss and fluff.
Portfolio was an expensive blunder for the magazine giant. It was just two years old... but it managed to consume a gigantic amount of money. As the NYT reports:
"Most of the $100 million pledged toward the start-up is gone, sunk into the very expensive printing, paper, marketing and editorial costs that go with creating a magazine, especially one published by Condé Nast."
Read full article...
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