• Paid Content, Thursday, August 13, 2009 12:36 PM

Portfolio.com is back in business! Though only a shadow of its former self, the Web site of the trash-heaped Condé Nast glossy successfully relaunched this week.

Now under the ownership of Advance Publications sister company American City Business Journals, the site will stick to business news rather than capitalism's oversized personalized and their extravagant lifestyles.

The new, if not necessarily improved, site will also serve as a gateway for content from other BizJournals' weeklies, including Sports Business Journal, and Sporting News, along with other Condé Nast content. It will also drill down into five specific sectors: health care, tech, banking and finance, advertising, marketing and media, and aviation.

The move, first announced in late May, is a no-brainer seeing as how many millions of dollars Si Newhouse pumped into the Portfolio brand, which, while it may not have had time to crystallize in the minds of consumers, had gravitas from day one. When Portfolio launched in 2007, Si was said to be prepared to spend $100 million to $150 million just to establish the title as a profitable business.

What are the site's prospects going forward? It all depends on your expectations, which, at least for its owners, appear modest. If Rupert Murdoch sticks to his guns, and put every news property he owns behind a pay wall, and if other business publishers continue to fold at the present rate at which they're folding, Portfolio could eventually emerge as a real contender in the harried world of business media.

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