On the Bright Side, a Magazine Devoted to Pole-Dancing Launched Today

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But it's online-only. Meanwhile, the ax came down at several traditional media companies.

Pumpsmag.com, a digital magazine that promises to "draw the curtain of exclusivity off the billion dollar Gentlemen's Club industry," has launched. [Via UrbanDaddy]

• Hachette Filipacchi is enacting companywide pay cuts accompanied by a delightful increase in hours. [Gawker]

• Reed Business Information, Variety's parent company, is laying off 7 percent of its total staff. Variety's executive editor, Michael Speier, was among those laid off, and more exits are expected. [Wrap]

• Brian Tierney, the CEO of Philadelphia Newspapers, which owns the Philadelphia Inquirer and Philadelphia Daily News and recently declared bankruptcy, tussled in court today with lenders who say he paid himself a $350,000 bonus, on top of his $518,000 salary, while the company was going bankrupt. [AP]

• The Boston Globe has appointed Globe Magazine’s Doug Most as the paper’s deputy managing features editor. This means the Globe expects to survive! [Dont' Quote Me/Boston Phoenix]