In your mordant Monday media column: NotW readers disappear, newspapers must advertise, Keith Gessen's pale jail tale, the Tribune Co. screws more shareholders, in-house news, and your headline fuckup of the day.
Tribune Co. Chief Innovation Officer Lee Abrams resigned this afternoon, because he's cartoonishly incompetent.
Tribune Company CEO Randy Michaels decided to micro-manage in the weirdest way possible — by banning words like 'authorities', 'diva' and 'manhunt' from the mouths of reporters or anchors at flagship news/talk station WGN-AM (720) in Chicago.
• Rupert Murdoch is hoping to give the Times a run for its money. The mogul plans to put $15 million into the NYC edition of the Wall Street Journal. [NYO]
• ABC still hasn't said who's replacing Diane Sawyer on Good Morning America, which has led to some "puzzlement and frustration" among staffers. [LAT]
• Why is…
• Harvey and Bob Weinstein are breathing a sigh of relief today. Quentin Tarantino's Inglourious Basterds did better than expected at the box office this weekend, raking in $37.6 million in sales. Not that one good weekend will be enough to lift the studio out of the financial mess it is in. [NYT, THR, WSJ]
• Related:…
• Controversial right-wing columnist Robert Novak is dead at 78. [NYT]
• Sunday's hyped-up premiere of Mad Men attracted lots more viewers, as expected. Some 2.8 million people tuned in, up 33% from last year. [Reuters]
• Struggling studio MGM has dumped its CEO and hired a new one. [WSJ]
• Is Sam Zell going to walk…
• Time Warner sucked wind in the second quarter as profits fell 34%. Newly-independent Time Warner Cable, however, posted a profit. [AP, Reuters]
• McKinsey has set up shop at Condé Nast. What it is the consulting firm's actually doing (or recommending), however, remains a mystery. [NYO]
• Barry Diller's IAC posted a…
• The bleak outlook for network news is getting bleaker: Both the CBS Evening News and ABC's World News suffered all-time ratings lows last week. [HuffPo]
• CBS chief Les Moonves's compensation was slashed by 76 percent last year. He still earned $13.6 million, though, so don't feel too bad for him. [Crain's]
•…
• Is Harvey and Bob Weinstein's film company headed for bankruptcy? That remains unclear, although the Weinstein Co's decision to hire Miller Buckfire to restructure its finances isn't a good sign, that's for sure. [NYT]
• Members of the Boston Newspaper Guild are voting today whether to accept the package of pay cuts…
Have Internet snarksters found the recipe that will save Tribune Co. from bankruptcy —photos of high-school volleyball players wrestling each other in chocolate syrup? (Photo by Joe Cavaretta/South Florida Sun-Sentinel)
The Tribune Co. has found a hero to rescue it from impending oblivion: Dick Tracy! They just have to break him out of Warren Beatty's basement.
• Dark days at the Times: The newspaper's in "advanced discussions" to sell a "substantial portion" of its Renzo Piano-designed headquarters. [NYT]
• Disney is merging its ABC TV network with ABC Studios. [WSJ]
• WNET-Thirteen is cutting budgets and laying off staff. [NYO]
• In Style publisher Lynette Harrison…
The editors and writers of the Los Angeles Times could shut off the presses tomorrow and live off its website, media pundit Jeff Jarvis claims. But the numbers don't add up.
♦ The Tribune Co. is now hovering dangerously close to bankruptcy. [NYT]
♦ Media companies have let 30,000 people go thus far this year. [AdAge]
♦ Christie Hefner is stepping down as CEO of Playboy. [Bloomberg]
♦ It's now official: David Gregory is the new host of Meet the Press. [NYT]
♦ The New York Times Co. says it…
♦ Merrill Lynch CEO John Thain is tangling with the bank's board over a $10 million annual bonus he says he deserves for "saving" the firm and selling it to Bank of America. [Reuters]
♦ Ken Griffin's Citadel is closing up shop in Tokyo. [Bloomberg]
♦ UBS may be planning to shed another 4,500 jobs. [DB]
♦ Sam Zell's…
♦ Following a small incident yesterday, MSNBC is reportedly planning to institute a tape-delay on Morning Joe beginning on Monday. [TVNewser]
♦ Vivian Schiller, the head of NYTimes.com, is leaving to join NPR as its new CEO. [Gawker]
♦ NBC political director Chuck Todd is co-authoring a book called How Obama Won…
♦ More pain at 4 Times Square: Condé Nast is shuttering Elegant Bride. [Jossip]
♦ Despite the fact Portfolio fired 32 staffers last week, a spokesperson confirms the mag is going ahead with a soirée at the 21 Club later this month. [Page Six]
♦ Not surprisingly, Fox News has landed the first post-election…
Well if it isn't one of those little anecdotes could be seen as a neat metaphor for the entire business of finding neat metaphors to explain large global topics! Tribune Company COO (and ex-Clear Channel CEO) Randy Michaels recently told the company's bondholders on a conference call that he'd been exploring the…
