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More Portfolio Bashing BacklashConde Nast’s New Magazine Is Finding More Allies

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Is criticism of Portfolio just jealous sniping from rivals? That’s more or less the take of The Deal’s Matthew Wurtzel.
“The second issue of Conde Nast Publications' business magazine Portfolio is now at newsstands leading critics like MarketWatch's Jon Friedman and The New Republics' Elizabeth Spiers to rip it apart once again. The magazine has established lofty goals of changing business journalism so, of course, it is going to illicit ill-will amongst rivals,” Wurtzel writes. “However, the hazing — if you will — of Portfolio is commonplace in business journalism. After all, Portfolio is not the only business journalism effort to face such treatment. The as-yet to air Fox Business Channel has received similar derision.”
Does that make sense? Some of the early criticism of the magazine came from DealBreaker's founder Elizabeth Spiers, who hardly seems to be a likely partisan of the cause of not changing business journalism. The Deal seems to be projecting its own experiences on to Portfolio. When it was launched, it was widely criticized by more established business journalism outlets. “Although the chorus of naysayers — The Wall Street Journal, The New York Times and the Financial Times — was smaller, their voices were perhaps just as loud — these are, of course, the stalwarts of daily news,” Wurtzel writes. “Their ‘big issue’ with The Deal was whether a privately owned newspaper reporting on private equity could remain objective.”
These days, according to Wurtzel, the criticism comes faster and with more heat because of the proliferation of online media—such as blogs.
We’re going to take that as a compliment.
[Disclosure Note: If you look over the left column, you might notice that Portfolio is an advertiser on DealBreaker. Phew. That was hard to admit. Now I need to go find myself a nice cold glass of Mike's Hard Lemonade.]
Portfolio bashing is normal [Dealscape]