In your finally Friday media column: BBC execs must struggle by on $150k, Michael Wolff looks in the mirror and compliments himself, rumors of office closures at Newsweek, and more on the Time Inc. layoffs.
Alas! The BBC is cutting the pay of its top execs by 25%. How poor shall they now be? "The BBC currently spends about £79 million ($129.4 million) on pay for its 634 senior managers and nine most senior executives." Over $200K each, on average. Urchins.
A tipster tells us that Newsweek has shut down its L.A. and Dallas offices. Hmmm. We heard back in February the magazine was shutting down its LA and San Fran offices. So we're not sure how new this is. Or how it will affect the Historical Jesus. We've asked Newsweek to clarify for us, and we'll update when we know.
UPDATE: Newsweek tells us, "The Dallas office remains open. The LA office remains open. We combined the western region sales so it is run out of San Francisco instead of LA." Clarity on staffing levels, TK.
UPDATE 2: "The Dallas office was reduced by three and we still have a sales rep there," they say.
Keith Kelly says that the upcoming $100 million Time Inc. cuts will work out to about 540 layoffs. That's roughly the same as last year's monster Time Inc. layoff round, give or take 50 employees or so. Time Inc. will give, rather than take.