In your woebegone Wednesday media column: Hearst gets money, layoffs at Current TV, Conde Nast gets internet religion, and Sesame Street characters are the swing votes in Fox News' war for righteousness.
What's this? Keith Kelly says that Hearst is sitting on a $1 billion "war chest," and that the company "is said to have revenues over $7 billion and to be profitable — as well as debt-free." Hey Hearst, Conde Nast is calling—they want to know what your secret is! For making money! Haha! Man. Somebody should definitely have the Hearst CEO repeat that one to Si Newhouse at some point. At a party or something. Just slide right over and lay it on him. That would be so funny.
Current TV is laying off 80 staffers, about a fifth of its work force. Interesting quote from them! "This re-organization was not the result of a need to cut costs. Current Media will have its most profitable year." That's a new sort of explanation, for this type of thing. Our condolences to the departed.
Conde Nast is doing something related to the internet! Says here Conde is "embracing magazine Web sites more as enhanced platforms for the titles' editorial missions rather than simply as companions to the print product." Does that mean they will have good magazine websites instead of not so good ones? Time will tell!