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]