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Portfolio Last Of The Million-Dollar Launches?

When it hits newsstands in April, Conde Nast's Portfolio will feature lavishly illustrated journalism by some of the world's best business writers. But the new title may also stand out in another way: as the last of the multimillion-dollar magazine launches. With the Internet sucking the life out of print, the number of magazine launches is expected to drop 17 percent in 2006, says Samir Husni, a University of Mississippi journalism professor who tracks the industry. That would be the first decrease since 2001. And the percentage of magazines launched by major publishers will fall to 3 percent of the total, versus as high as 8 percent in other recent years. "The whole publishing model has changed," Husni says. He notes that Conde Nast has had Portfolio in the works for more than a year. "I really doubt [Conde Nast] would have planned something this big in the current marketplace."



Read the whole story at Crain's New York Business »

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