Publishers at Condé Nast have asked to contemplate how they might trim 10 percent from their budgets. Meanwhile, Hearst does a Don Corleone impression, and a 55-year-old's "fun" internship doesn't sound fun at all.
• Publishers at Condé Nast have been asked to contemplate how they might trim 10 percent from their budgets, "although no specific targets have been set ... most publishers are expected to spend less on events, travel and other areas." Meanwhile, Hearst, Rodale, and Hachette Filipacchi continue to “streamline” their operations. [WWD]
• Hearst’s Seattle Post-Intelligencer makes employees an offer they can’t refuse — but the offer to move to web for less money and fewer benefits is so bad that some staffers, well, refused. [Romenesko]
• The rough media market is even hitting the last refuge — college. Campus newspapers have been forced to scale back production, cut stipends, or fold altogether and rely on their web editions. [USAT via Gawker]
• At least one casualty of the magazine massacre is now an unpaid online intern. Just call Lois Draegin the Ghost of Media Future. [Romenesko]