Earlier today, Media Mob looked at Richard Pérez-Peña’s New York Times Sunday Business article about Condé Nast chairman Si Newhouse.
In that article, Mr. Pérez-Peña noted:
The price tag for Porfolio just keeps going up, apparently. In April 2007, New York Magazine’s Mark Fass wrote, that the magazine had "a reported budget of $125 million, it’s the most expensive launch Condé Nast has ever done."
Previously, the quote had been $100 million. Around the same time in 2007, Keith Kelly of The New York Post reported, "Before it turns a profit some years down the road, insiders are expecting it will cost Condé Nast Chairman S.I. Newhouse $100 million or more from the Newhouse family’s multibillion dollar publishing empire."
But who can say exactly how much it will cost? A day after The Post reported that figure, The New York Times‘s Katharine Q. Seelye talked to the press-shy chairman of the company:
At those prices, he’d better.