The kids' rags have been shut down by Nickelodeon. Now Highlights reigns supreme! That and the rest of today's media news, including hard bargains at the Globe and cutbacks at The Hollywood Reporter, in our afternoon media roundup.

• Nickelodeon's Nick and Nick Jr. magazines have folded. About 30 staffers have reportedly been laid off. [FishbowlNY/Mediabistro, Company Town/LAT]

• Nielson Co. has shuttered industry newspaper Radio & Records. [FishbowlNY/Mediabistro]

• Nielsen cut ten at The Hollywood Reporter and closed both the web and print editions of Radio & Records. [Romenesko, Wrap]

• Union employees at the Boston Globe can either accept the new contract proposal or take a pay cut of 23 percent. What a choice! [Boston Globe via Mediabistro]