Media Bubble: AMI Learns That Firing Employees Saves Money

• Yesterday's American Media bloodletting will cut the mag publisher's workforce by 9 percent. [WWD]
• And will save the company about $10 million. [NYP]
• With Katie Couric heading to CBS, NBC is days away from a deal to bring Meredith Vieira to fill her clickety stiletto heels. [NYT]
• Gabe Sherman agrees: Times Discovery Channel might be on its way out. Plus Hearst in the new tower, Lapham at Michael's, and Raines at Harvard. [NYO]
• The New York Times has finally done something to make Jack Shafer happy. So now he'll cancel his subscription. [Slate]
• The Week names Nick Kristof Columnist of the Year. We imagine Andrea Peyser is devastated. [E&P]