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Portfolio Folds

Conde Nast Portfolio is closing. Jeff Bercovici writes on the Portfolio blog:

Our editor in chief, Joanne Lipman, just broke the news to staff, saying the decision had been made “because of financial reasons at Advance,” Conde Nast’s parent company. “It’s not anything that the company wanted to do.” She said she was informed by Conde Nast chairman S.I. Newhouse Jr. this morning of the decision.

See the post here.

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