Your tip
RadarOnlineRadarOnline
BREAKING NEWS

New York Gives Portfolio $25M Raise

Oct. 27 2008, Published 7:07 a.m. ET

Link to FacebookShare to XShare to FlipboardShare to Email
Getting your Trinity Audio player ready...

NOW EVEN RICHER! Portfolio

Finding out how much a privately held company like Condé Nast has spent on something is hard enough. But trying to divine how much it intends to spend on a future something takes reporters into really murky waters.

Ever since the Newhouse-owned publishing company announced plans for a new business magazine (along with a Web presence and perhaps several companion titles) in August 2005, the figure of $100 million has been tossed around in the press. It appears to have originated with Condé Nast CEO Chuck Townsend, who told the New York Post and other outlets that anyone looking to break into the market "has to be prepared to spend" $100 million or more.

MORE ON:
Breaking News
Article continues below advertisement

A few days ago, inflation kicked in. A New York magazine story about Portfolio, which finally hits newsstands next week, reads: "With a reported budget of $125 million, it's the most expensive launch Condé Nast has ever done," declares writer Mark Fass.

Advertisement

DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.

More From Radar Online

    Opt-out of personalized ads

    © Copyright 2024 RADAR ONLINE™️. A DIVISION OF MYSTIFY ENTERTAINMENT NETWORK INC. RADAR ONLINE is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.