conde nast portfolio

David Carey had the inside track to becoming Conde Nast's next CEO, but instead he's been named president of archrival Hearst Magazines. Among his hits at Conde Nast are The New Yorker, Wired and Golf Digest. Portfolio didn't fare so well.

The recession has already claimed its share of media properties, but, while the economy may or may not have touched bottom already, nobody who knows anything about anything thinks the closures are about to stop. The only question is: Who's next? As a veteran of two high-profile media casualties...