Colarusso will be subject to a somewhat unusual reporting structure, at least within Condé Nast — he answers both to editor in chief Lipman and group president and publishing publisher David Carey. "Joanne's in charge of the quote unquote journalism, I'm in charge of getting broad distribution for the content," Carey told WWD. And to those who wonder about possible conflicts of interest, Carey said, "If there's a piece or a blog post that may affect an important client, I don't get a vote on it."

Ari Brandt will remain general manager of the site, overseeing its business.

Carey compared the structure with that of Wired, which was placed under his purview last week, and which has a Web site editor who works both with Wired editor in chief Chris Anderson and CondéNet president Sarah Chubb.

The New York Observer reported in December, and sources at Portfolio confirmed, that Colarusso had been interviewing for the position of Portfolio.com editor in early 2007, just before he was promoted to the Post's city editor. Carey said portfolio.com drew 1.7 million unique visitors in November, and two million in December. — Irin Carmon

IT'S OPRAH'S WORLD: Oprah Winfrey has already named a magazine and TV show after herself, so why not add a whole TV network to the mix? The queen bee of TV revealed her plans for a new cable network (the Oprah Winfrey Network, naturally) on Tuesday, but her loyal fans needn't worry: She's not giving up her daytime talk show duties. Winfrey said she'll continue with "The Oprah Winfrey Show" until at least 2010, but it will not be televised on OWN, at least for another five years, due to a deal that is already in place. "I will be creating new programming, but I will be the voice and the brand of the network," said Winfrey during a conference call.

She also made it clear that OWN, a venture with Discovery Communications, will not be Oxygen 2.0. "I was an investor in Oxygen, and I will have to say the channel did not reflect my voice, and I was not a participant in the development in the channel. That's why shortly after the deal I took myself off the board. This is very different. I am the chairman, and I will be choosing the chief executive, and I will be involved in every single element of programming."