Portfolio’s Second Issue Wraps With 122 Ad Pages As Deputy Editor Fired
The second issue of Conde Nast’s Portfolio magazine was completed earlier this week with 122 ad pages, down from 185 in the first issue. Ad pages in follow-up issues are commonly less than in the launch. The issue hits newsstands Aug. 15, less than a month after rumors circulated that production of the second issue of was behind schedule, and days after media reports said that editor-in-chief Joanne Lipman has fired deputy editor Jim Impoco.
Reports have indicated that Lipman and Impoco’s working relationship had become stressed and unfriendly. Tempers apparently flared when a story written by senior writer Kurt Eichenwald, which Impoco campaigned for, was cut from the lineup. Conde Nast spokesperson Perri Dorset confirmed that Impoco was reprimanded recently by the magazine’s business manager for his use of his expense account. Impoco had been part of Lipman’s senior staff, which includes fellow deputy editor Amy Stevens and managing editor Blaise Zerega.
As deputy editor at Portfolio, Impoco was responsible for assigning and editing stories and “helped build and create the feel of the magazine,” Dorset says. Before joining Portfolio, Impoco was a business editor at the New York Times, where he oversaw the relaunch of the Sunday Business section in 2005. Before that, he was an assistant managing editor at Fortune, and worked at U.S. News & World Report for more than 12 years where he served as business and technology editor.