Conde Nast’s Portfolio magazine has shut down, and MarketWatch’s Jon Friedman believes other business magazines are sure to follow.

http://www.marketwatch.com/news/story/portfolio-wont-last-biz-magazine/story.aspx?guid=%7B4BB07461%2DE172%2D4CB5%2DB314%2D3FB64DD9157F%7D&siteid=nwhfriend

Also, USA Today has most recent depressing news for the newspaper industry—an accelerating decline in circulation numbers.

http://www.usatoday.com/money/media/2009-04-27-newspaper-circulation_N.htm?csp=34&POE=click-refer

Once again, the bad news goes hand in hand with declining advertising revenues. The key question for us is: Are the PR budgets getting slashed at the same rate as the ad campaigns are?