With print journalism fighting for relevance, can a highly anticipated magazine bounce back from a lackluster launch? That's the question looming for Conde Nast's troubled new business magazine, Portfolio.

Speculation surrounding the stylish magazine surged as its identity crisis seemed to worsen. Its tagline, "Business Intelligence," promises a savvy certitude that has eluded the magazine so far. Conde Nast's sophisticated branding and hiring of top-notch editors from The New York Times and The Wall Street Journal may have heightened expectations ...