01/17/2009 05:12 am ET | Updated May 25, 2011

Magazines Sacrificing Web Sites To Save Print Editions

The operating policy now, particularly at Condé Nast, basically reads: Revenue first! Future later.

And the printed page, the luxury object, is still where you find the money these days.

"The print reader's worth a whole lot more [than the online reader]," said publisher Jann Wenner in an interview with Advertising Age last week.

"It's never come up before," said one senior editorial staffer who works at the Wenner Media empire. "I don't think I've ever heard anyone in my position or higher talk about the Web."

And where it was talked about, it's quickly being forgotten!

Portfolio, a magazine that had one of the boldest Web sites in the Condé Nast empire, let that experiment go two months ago when it dismissed 25 of the 30 people who worked full time and as freelancers for the magazine's Web site.

And why? Partially to save the magazine.

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