Portfolio.com will return.
Hours after we reported it first, Condé Nast announced this morning that it has transferred full control of Portfolio.com to its sister publisher, the American City Business Journals. The Charlotte-based ACBJ, which runs all the bizjournal.com Web sites, will assume full power both editorially and on the business side of the Web site, and has hired from portfolio.com managing editor Josh Moss to become the lead editor of this site. The new portfolio.com team will be staffed at Advance’s offices at 750 Third Avenue.
Tim Bradbury, president at ACBJ, said portfolio.com would start with a staff of roughly five on the edit side. He said that the Web site would look roughly the same as it does now, and that there would be minor tweaks to the design. The “Condé Nast” in the logo, for instance, will be dropped; the f in “Portfolio” will stay.
David Carey, the head of the business group at Condé Nast, said that there will continue to be a relationship with portfolio.com in terms of sharing Web content with magazines like Wired and Vanity Fair. Otherwise, he said, “I have no involvement anymore.”
Here’s the release:
CONDE NAST’S AWARD-WINNING PORTFOLIO.COM FINDS NEW HOME WITH AMERICAN CITY BUSINESS JOURNALS
New York, NY, May 20, 2009 Portfolio.com will become part of the American City Business Journal’s bizjournals.com effective in July, it was announced
today by Tim Bradbury, President, American City Business Journals, New Media, (ACBJ) and David Carey, Group President, Condé Nast. ACBJ and Condé
Nast are units of Advance Publications.
Bizjournals.com will oversee both the editorial and business sides of the site. The Portfolio.com editorial team and sales staff will be based in New York. In addition to newly created content, the site will share content with other Condé Nast sites including Wired.com, GolfDigest.com, and WWD.com, as it did previously. The site will also be the home of the archives of all the popular content published by Portfolio’s print and digital properties over the last two years.
“We are excited about continuing Portfolio.com and including the site in the bizjournals network because we were impressed by Portfolio’s strong web presence, its clean and crisp design, and its voice in the business journalism marketplace,” Tim Bradbury, President, American City Business Journals, New Media said. “We believe our readers will benefit as the re-launched Portfolio.com will have a stronger focus on industry news and a greater mission to offer information relevant to today’s business professionals.”
On top of its existing strengths, Portfolio.com will be able to leverage the collaborative skills and insights of the more than 600 ACBJ business journalists around the country. The site now will have access to local market intelligence and work collaboratively with ACBJ newsrooms across the country, presenting the most important local insights through a national lens and making it unique among national business media.
“We knew that Portfolio.com was a highly valuable asset, with an established digital brand, strong direct navigation by users, and a solid long tail of traffic from content published over the past two years,” David Carey, Group President, Condé Nast said. “We saw ACBJ as a perfect match due to its great editorial resources in the business arena, and view this as a win for both Portfolio.com¹s readers and the company.”
Condé Nast Portfolio magazine and its website Portfolio.com, launched in April 2007 and the magazine closed in April 2009. The site provided insight into the day’s top business stories, with analysis from bloggers and columnists. During those two years Portfolio.com grew to 2.8 million monthly uniques and won industry praise with awards such as the MIN: Best of Web 2008, MIN: Hottest Launch of the Year 2007, WebAward: Outstanding Achievement in Website Development 2007, and Webby nominees in Best Business
blog and Financial Services categories.