You're fired, Merry Christmas

Rumors are in the air this morning of big job cuts to the news divisions of NBC and MSNBC, as Jeff Zucker hacks up his old colleagues and saves the company a sweet $20-40 million.

Rumors are in the air this morning of big job cuts to the news divisions of NBC and MSNBC, as Jeff Zucker hacks up his old colleagues and saves the company a sweet $20-40 million. In other well-timed holiday media layoff news, The Wall Street Journal is planning newsroom buyouts, a Santa Barbara copy editor is fired (way harsh!) for a harmless gag gone wrong, and Viacom tells freelancers to take their “benefits” and go straight to hell.

Spotlight: Global media forecast

The sinister-sounding Group M, which is in fact a sinister media and advertising conglomerate, has released its global forecast for 2008, and it's not all that bad! Unless you're in America. Worldwide, they predict an ad spending increase of 7%, driven largely by growth in China. US ad spending will be barely half that, they predict. TV continues to rule, but the Internet will grow by up to 50%. Grab your laptops and catch the next plane to Beijing, ad execs!

Also:

Bush adviser thinks Washington press did a good job before Iraq war, but is too harsh now. Surprise.

“The View”'s Sherri Shepherd is not the sharpest tool in the shed.

Matt Drudge is in your pocket.

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