Cuts are on the way at Conde Nast, where management is expected to slash budgets across the company by 5%. Yet the deepest reductions will reportedly take place at Men's Vogue, which will be folded into Vogue, and Portfolio. The New York Post's Keith J. Kelly reports that staff will be cut 20% at the business magazine, including slicing the Web staff from 35 to five. Yet, the dismissals will not affect Portfolio's Washington staff, FishbowlDC reports. At least Details is doing well, reportedly planning to raise its rate base to 450,000 next year.
Also in the media glare:
Quarterly earnings roundup: The Washington Post Co. reports an 86% drop in third-quarter earnings; online revenues at AH Belo drop 19%; CBS Corp. reports a $12.5 billion loss; Meredith sees a 44% first-quarter decrease.
Analysts: Web display ads could plunge next year.