Conde Nast shutting down Portfolio

In 2007, New York magazine posed the question, will Portfolio magazine prove the naysayers wrong? Now we know the answer to that question is "no."

The slick, monthly magazine that seemed to shrink every month is ceasing publication immediately, according to various media reports. The magazine, which had a circulation of about 415,000, was launched at a more optimistic time when media companies thought that all you needed was quality content to attract readers and advertisers.