As the industry recovered from its Memorial Day–induced hangover, the New York Times hired their first social media editor, whose own Twitter was private until a few hours ago. In other news, indie-music magazine Plan B folded, and staffers at Condé Nast's Golf Digest are getting shafted from their lavish, midtown digs.

• Indie-music magazine Plan B has folded. The issue that hits shelves on June 1 will be the last. According to the site's blog, they are quitting while ahead: "To keep going, we'd need to make cuts in staff, content, size, frequency, print quality — and we're not prepared to do that." [PlanB]

• Condé Nast is moving Golf Digest out of its second-floor space at SL Green–managed 485 Lexington Avenue to sublease more than 54,000 square feet to Edison Schools, which provides commercial management of public schools. No word on where those employees will be relocated to. [NYP]

• The McClatchy Co., publisher of newspapers like the Miami Herald, the Sacramento Bee, and the News & Observer in Raleigh, North Carolina, announced last week that it had changed some of the terms of its debt agreements in the hope of staying alive for the foreseeable future. [FishbowlNY/Mediabistro]

• In a bittersweetly ironic move, Presstime, the monthly magazine of the Newspaper Association of America, will go online. The move will save over $500,000 annually for the trade association. [NYT]