Magazine cutbacks du jour. Conde Nast said that Portfolio, which launched in 2006, is reducing its frequency from 12 to 10 times a year. Rumors abound that Portfolio also may cut up to one-fifth of its staffers. (Through November, Portfolio’s ad pages were up 72%, according to Media Industry Newsletter. But that increase is from a small ad base.) Conde Nast is also reducing the frequency of Men’s Vogue to a twice-yearly schedule. American Express Publishing, which publishes Departures, Food & Wine and Travel + Leisure, is letting go 22 employees (both in editorial and sales). Through September, ad pages for all three titles fell around 5%, per Publishers Information Bureau. The various cutbacks come on the heels of layoffs announced at McGraw-Hill Cos., Time Inc. and Wenner Media. Regardless of the weather, it’s going to be a mighty chilly winter in magazine markets.
