Portfolio Magazine Shuts Down

Condé Nast has folded Portfolio magazine along with its website.  After laying off most of its website staff last October, the publisher informed the remaining 85 employees of the decision to shut down last Friday.  "The pressures and realities of the continuous deep economic slump have lowered Portfolio's revenue projections below what is needed to continue publication," Conde Nast Chief Executive Charles Townsend said in a statement on Monday.  The website itself is still running, but most of the recent posts are essentially farewells.