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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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| Bev Hills billionaire Ron Burkle has $56 million in loans against his two houses. The McCourts have borrowed $28 million on their properties.
| Advice for Greenies in a Complicated World
| Steve Jones, the self-proclaimed Sire of Wilshire (a nod to the physical address of his former home at Indie 103.1 FM), is back on the air!
| She gaped at me like I was living history -- Miss Jane Pittman come to put her withered lips to the "Young Only" fountain straw of ageism.
As newspapers and television pull back from investigative reporting, foundations and other organizations are beginning to fill the void. One of the most interesting is Accountable California, a project of Local 721 of the Service Employees International Union.
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