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.
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