James Truman, the former Condé Nast editorial director who abruptly left his 10-year gig under Si Newhouse last year and fled to Spain, is back in New York, eating chicken and, among other things, planning the launch of a new magazine. Oh, and talking about the end of his Condé Nast tenure. Reports New York:

The inefficiency of the enterprise was at one point what attracted him to it, especially at a place as gloriously irrational as Condé Nast. But today, "I look at all of those magazines that have a million-plus circulation and all I can see is misery. Or the anticipation of misery. The circulation is unsustainable, and the content that's in it is unaffordable given that it doesn't convert to other media — television or the Web." He thinks that magazines will either become very expensive or free.

This is, as they say, a must-read.

The Ex-Prince of Condé Nast [NYMag]