Condé Nast Is ‘Operating Like General Motors’

A former Condé executive compares the magazine publisher to a broken-down car facility. Plus, Barry Diller’s AIC loses a chunk of change, and Jann Wenner, Clear Channel, and the Baltimore Sun make cuts, but remain troubled.

• A former Condé Nast exec told Keith Kelly, “Condé Nast is operating the way General Motors did a few years ago.” Grim. [Media Ink/NYP]

• The Newspaper Guild is in talks with the Times and has “tentatively agreed … to a five percent salary cut,” effective through December 31 of this year. [NYT]

• Clear Channel is cutting nearly 600 jobs, following a round of layoffs in January that cut three times as many. [Yahoo via Mediabistro]

• Barry Diller’s IAC lost $28.4 million in the first quarter. [NYT]

• Wenner’s Men’s Journal is cutting another two issues. [Media Ink/NYP]

• Former Blender creative director Dirk Barnett has been offered the same job at Maxim under the editorship of Joe Levy, Blender’s former EIC. [FishbowlNY/Mediabistro]

• Senators John Kerry and Ted Kennedy are going to bat in an effort to save the Boston Globe. [Boston Globe]

The Wall Street Journal is threatening to surpass USA Today’s weekday circulation. Why does Rupert Murdoch always win???? [Mediaworks/AdAge via Mediabistro]

• There were fifteen new layoffs at the Baltimore Sun. [Baltimore Brew via Romenesko]

Condé Nast Is ‘Operating Like General Motors’