deathwatch, continued

The New York Times reports that Conde Nast shut own Portfolio, effective immediately. The staff was informed at 10:00 this morning.

From the article:

Last October, Portfolio’s frequency was cut from 12 times a year to 10 and its Web site, Portfolio.com, laid off the majority of its staff. The magazine was designed as an upscale business publication and won a National Magazine Award in 2008 for its “Briefs” section, but it failed to make significant inroads in the crowded business magazine market, which includes BusinessWeek, Fortune and Forbes.