“Clearly, the sky is falling,” says New York Times writer David Carr, regarding the bloodiest week for employees of media companies in recent memory. Here's a roundup of this week's bad media news:
- As though following the advice of Netscape founder Marc Andressen, The Christian Science Monitor announces it will cease print publication next April, choosing to focus on its Web site.
- Time Inc. announces a major restructuring, including 600 layoffs.
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Gannett plans to cut 10% of its newspaper workforce, but none at USA Today.
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Doubleday Publishing lays off 16, or 10% of its staff.
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Martha Stewart Living Omnimedia cuts its 2008 revenue forecast, and reports a 25% decline in its publishing division's revenue.
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McGraw-Hill trims 270 jobs company-wide.
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The Los Angeles Times arranges to cut 10% of its editorial staff, or 75 jobs.
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Standard & Poor's and Moody's downgrade The Washington Post Co.'s outlook from “stable” to “negative.”
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The Star-Ledger of Newark, NJ, says it will cut its newsroom staff by 40% by the end of the year.
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In one bright spot, New York Times executive editor Bill Keller says he sees no further staff reductions.
Also in the media glare:
Media plans for an early, and late, election night.
Charles Barkley and Fox News' PR department go one-on-one.
Numerous former New York Sun employees contribute to The Daily Beast.
