There were losses at the Washington Post, Time Inc., and Martha Stewart Omnimedia. Plus, more layoffs at Wenner and the Tribune, but the Boston Globe remains alive despite not reaching a deal on budget cuts by today’s deadline.
• The Washington Post lost $19.5 million in the first quarter. [Politico]
• At Time Inc., revenue is down nearly $200 million in one year. Uhh … [MediaInk/NYP]
• At Wenner, employees found out about their nearly 2 percent pay cuts by reading their paychecks yesterday. Plus, they get five additional days off and five people were cut from Men’s Journal. Thanks, Jann! [MediaInk/NYP]
• Despite the deadline set by the New York Times Company, there was no new deal announced with the Boston Globe today. But the mechanisms for shutting it down have not been kicked into gear. [Boston Herald]
• It’s official: The
Chicago Tribune Allentown Morning Call sliced off over 70 slots, including 50 layoffs. [Romenesko]