Rumour: Layoffs At Reader’s Digest

In your maudlin Wednesday media column: rumours of Reader’s Digest layoffs, a guarantee of Conde Nast layoffs, and the debate over the newspaper industry is one-sided, to be honest.

A tipster tells us that there have been “dozens” of layoffs at Reader’s Digest yesterday and today, possibly involving the outsourcing of the mag’s web department. [Related: The company's bankrupt, and looking to move to cheaper headquarters.]

How soon will the layoffs be coming at Conde Nast? Maybe next week at some magazines, maybe weeks or months down the road at other magazines, according to John Koblin. So you really don’t know when you might go! Always fear, Nasties.

The Village Voice has a long cover story this week about the newspaper industry in New York City, which we’ll sum up as: It still exists. But it’s getting smaller.

Another perspective, from the NY Post, a newspaper: The newspaper industry is back! Gannett’s earnings are higher than expected, so investors are piling in to newspaper stocks. Upside: They’re cheap! Downside: They will get cheaper. Just you wait. Just you wait.