It looks like Condé Nast has decided to give Portfolio.com a chance to live after all. While the print version was shuttered late last month, Condé Nast execs held off on killing the site as well. Still, it will leave the CN fold and be moved to American City Business Journals, which is operated by Condé Nast parent company Advance Publications, NY Observer reported earlier. AdAge previously reported about ACBJ’s intentions to take on oversight of Portfolio.com, but the talks initially fell apart.
According to the release, Portfolio.com will become part of ACBJ’s BizJournals unit in July. In addition to producing new posts, the site will still share content with its former Condé Nast sibling sites such as Wired.com, GolfDigest.com, and WWD.com. No word on how many of the roughly 80 staffers who lost their jobs will be back to work on the site. Since the the magazine’s closure, the site has operated with a small support staff and has been in a state of suspended animation, with just a few stories a day from wire services being posted.