Just a month after Gawker Media's most recent staff and blog reshuffling, Valleywag managing editor Owen Thomas tells Forbes that his blog will be folded into Gawker. Meanwhile, company chief Nick Denton, who railed this week against the media industry's inaction during the economic downturn, tells The New York Observer that Consumerist is up for sale. Gawker Media managing editor Noah Robischon will also reportedly leave for Fast Company next month.
Also in the media glare:
Thursday's recession roundup: QVC to eliminate 700 jobs; Quadrangle will close its media hedge fund; The Economist to trim 5% of its North American staff; Time Inc. to cut 92 jobs in its consumer marketing group; The South Bend Tribune will reduce staff by 14% this year; Conde Nast cancels its editors-and-publishers-only holiday party.
The Wall Street Journal names Financial Times veteran Gerard Baker deputy editor of the Journal and Dow Jones.
New York Times Co. stock hits another 52-week low.
Reed Elsevier says it's having difficulty selling the Reed Business Information publishing division.