Magazine down: Portfolio

Editor in chief Joanne Lipman broke the news to the financial magazine's staff this morning, citing financial reasons at Advance, the parent of Conde Nast. The mag's media blogger Jeff Bercovici posts: "For nearly two years I've been covering the media industry's bad news on this blog, including some that's hit very close to home. Now it hits closer still: Condé Nast Portfolio is closing."

Print woes: Big newspapers continued to shed circulation, led by the New York Post (20%), Miami Herald (15.8%) and San Francisco Chronicle (15.7% daily, 16% Sunday.) The Los Angeles Times dropped 6.5% to 723,181 copies daily and 7.4% to 1,019,388 on Sunday in the daily averages for the six months ending March 31. Editor & Publisher

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