Remember how that old game goes? If you don't have a chair to sit in when the music stops, you … are … out! Condé Nast publishers got to play today. Meanwhile, the Times cut its dividend, and Playboy may be on the market. All in all, a grim day in the media world.

• Condé Nast musical chairs: Wired’s publisher, Chris Mitchell, is now publisher of Condé Nast Traveler, which lost its publisher, Lisa Hughes, to The New Yorker, replacing Drew Schutte, who is headed to Condé’s digital team. Follow? [FishbowlNY/Mediabistro]

• The Times has, as suspected, suspended its quarterly dividend. This is bad news not just for the Sulzbergers, who will now have to live on the scraps of their previous wealth, but for all of us. [NYT]

• A print/web publishing company has advertised on Craigslist for a $10-per-hour editorial assistant who speaks "Parisian" French and never watches The Hills, demands so outlandish that Gawker thinks it must be fake. [Craigslist via Gawker]

• Playboy Enterprises reportedly lost $156.1 million last year, and CEO Jerome Kern said they’re “open to discussions” about selling the magazine. [Mixed Media/Portfolio]

• Women’s Health’s executive editor, Alison Gwinn, has left the magazine for the same position at O. Oh. [FishbowlNY/Mediabistro]