Earlier this week, Condé Nast announced that it had hired McKinsey & Co. to help it "rethink" how it does business and "develop new perspectives on optimizing our approach to business [and] growing revenues." Is it a coincidence that Condé's parent company filed a lawsuit against the British West Indies today?

Despite the fact that The Bobs are coming to send many to the unemployment line, Conde Nasters still need to hook up, thus they post Missed Connections ads on Craigslist. Naturally, we'd love to help facilitate a coupling!

As the L.A. media otherwise disappers, Jay Penske is in empire-building mode. His hitherto low-profile Mail.com Media Corporation acquired Nikki Finke's showbiz blog and he backed Movieline in April. From what we've gleaned, the guy's a true Tinseltown dreamer.

Conde Nast has always been able to afford the luxury of publishing money-losing magazines, thanks the other half of their parent company—the Newhouse newspaper chain—subsidizing them with cash. Those days are gone. Now, a cable company is all that keeps Conde afloat. And the Newhouse family's getting antsy:

Vogue's Anna Wintour was profiled on 60 Minutes tonight, a piece in which she expressed reluctance to glam down during tough times, defended her bitchiness, and basically said she's in it for the free clothes.

Hearty congratulations to S.I. Newhouse and the rest of the Newhouse family: Samuel I. Newhouse IV, the grandson of Condé Nast's mercurial chairman, got hitched this past weekend! You may remember the young heir from Jamie Johnson's 2003 film Born Rich, which featured an interview with the youthful Newhouse in his…

A year before Portfolio's launch, the magazine produced mock-ups, obtained by the New York Observer. The titles are awful, but the cover lines reveal a compelling vision editor Joanne Lipman couldn't pull off.

When Tina Brown looks at the closure of Portfolio, she must worry for her future. Publications are now expected to turn a profit? Time for the notorious spendthrift to panic.

Si Newhouse Jr. ordered more layoffs at Condé Nast last month; receptionists and online writers were promptly fired. But the magazine honcho apparently doesn't mind adding another Newhouse to the payroll.

These are difficult times for Condé Nast. AdAge reported yesterday the publishing giant is planning to slash the ad sales group managed by Richard Beckman; today, Keith Kelly of the Post reports some of the company's flagship titles have seen a 30 to 40 percent decline in revenues, and the company has "taken a…

What is wrong with Joanne Lipman? Does the Portfolio editor detest business journalism? Is she trying to finally get fired? There must be some reason she's putting Sarah Palin on next month's cover.

Things are not looking up at Condé Nast, the publishing conglomerate controlled by shadowy billionaire Si Newhouse. Yesterday, Chuck Townsend, the company's CEO, sent around a memo warning that "difficult decisions" would have to be made "to ensure our financial well-being," and insiders suggest a big budget cut is…

A staff writer at Michael Wolff's Newser, Victoria Floethe, is rumored to be having an affair with her boss. Who knew there were any media jobs still worth sleeping your way into?

Rest assured, America: Lawless hippie dope fiend Michael Phelps will not get a pass from the brave sheriff of Richland County, South Carolina. Nor will A-Rod assert independence from Madonna without consequence.

Conde Nast, magazine publisher of the gods, is in trouble. Many of its most famous magazines are losing critical amounts of advertising. How bad are things? So bad that Conde is actually making some changes!

With the steady crumbling of Conde Nast, you have to wonder how long their chairman, Si Newhouse, can hang tough. Great media baron families like his are a dying breed.

There's been no shortage of Anna Wintour rumors the past couple of months. Back in November, the word circulated that the Vogue editrix was thinking about retiring; two weeks later, there was gossip that Condé Nast chief Si Newhouse was planning to replace her with French Vogue editor Carine Roitfeld. More recently,…

It's been a rough few weeks for Vogue editor Anna Wintour. There were the rumors that Condé Nast chief Si Newhouse was thinking of replacing her with Carine Roitfeld, the editor of French Vogue. Then there was more concrete evidence of Vogue's fading relevance: The number of ad pages in the magazine tumbled by…

For weeks, the Anna Wintour rumors coming out of Condé Nast concerned the Vogue queen's failures and purportedly impending departure. Now someone is spreading word about the Dear Editor's glorious success. Hmm.