• Marketwatch, Tuesday, April 28, 2009 9:32 AM

Portfolio won't be the last major financial magazine to go out of business in the near future. The business model of these magazines can no longer can be sustained in a digital age, says columnist Jon Friedman. In a bear market, people prefer to sit on the sidelines, and investment advice isn't as important as it used to be. And if the readers aren't there, advertisers will put their advertising dollars somewhere else, such as cable television and the Internet.

Which title will be next? Perhaps Fast Company or Time Inc.'s BusinessWeek. It is only a matter of time before a corporation decides to pull the plug on a cash drain. Forbes, which is privately owned, probably will keep its flagship asset afloat out of pride, if nothing else -- unless Forbes' new partner, Bono, disagrees.

In times of distress, companies cut innovation and don't take as many chances. Portfolio was a victim of hype at the outset and the recession at the end. Get used to this gloom and doom. You will be seeing this story again.

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