• Budget reductions of around 25% at Details, Traveler, Glamour, Gourmet, and Teen Vogue.
• Unknown budget cuts at the rest of the Conde mags—except the New Yorker, which is escaping unscathed, according to the NYO.
• The various mag editors get to determine how to achieve their budget cuts.
• No immediate magazine closures are predicted, but some of the weaker titles may reduce their frequency.
• Layoffs are coming.

I’m going to say it again…Print is DEAD!!

LINK LOVE: Gawker

I unfortunately draw enjoyment when those I deem enemies do badly. That’s why I was so glad to here that the New York Observer is continuing to do poorly. They just fired a large portion of their writing staff including  Doree Shafrir, who was the amazing reporter who recently cracked open the Hipster Grifter story.

It’s a pretty sad tale. The paper seems to be losing money and these firings only suggest that they need to slim down to protect from shutting down. I know the feeling Jared, and if it wasn’t for the fact that your paper enjoyed bashing the hell out of me last February for no reason, I’d probably reach out to you. I feel like we’re connected somehow.

We’re both 26. We both run media companies. The only difference is you got daddies money to buy your media outlet, I built mines from the ground up. Oh, and yours will probably be shut down by years end. Should’a bought digital kid, no one reads the papers anymore.

I think it might be about time to add another nail to the coffin.

SOURCE: Bloodbath at the New York Observer [Layoffs]

Yes, we’re still angry at the Observer and will have our full lawsuit ready for Monday (look for details Monday!!!), which is why we weren’t surprised that some former writers are suing for backpay. Hey, if any of you are interested in joining our suit, or being represented by the offices of Sanford, Wittels, and Heisler, LLC, be sure to let us know.

Read the full story on the Observer from Gawker.com.

Okay folks, you can put down the champagne bottles, party hats and noise-makers. The celebration (for most…) was fun while it lasted, but the party is over. It’s pretty safe to say that Anna Wintour is NOT retiring and is NOT being replaced by Carine Roitfeld. We all know that I have a soft spot in my heart for Anna Wintour, so let me help the fashion diva out and provide all of you indies with a few trustworthy sources and put this rumor to rest:

Wintour herself told the New York Observer this morning:

 ”I have no plans to leave American Vogue now or in the foreseeable future.”

Also, while speaking to a panel at the Plaza Hotel (Vanity Fair editor Graydon Carter and New Yorker editor David Remnick were present) she revealed that she wasn’t yet “fed-up” with her job:

“My father always said to me that when you get too angry that’s the time to stop. The day I get too angry is the day I take up gardening.” 

Carine Roitfeld, editor for Vogue France and supposed replacement for Wintour spoke to WWD from London and told them:

“I’m very happy at Vogue France.”

Si Newhouse, chairman of Condé Nast, said through a spokesman on Tuesday:

“There’s no truth to it. This is the silliest rumor I ever heard.”

So there you have it. Wintour, Roitfeld and Newhouse all disaffirmed the rumors of Wintour’s retirement and replacement. This is a prime example of why we should ignore non-credible sources and not jump to conclusions. But I did hear that Anna Wintour was pregnant with twins…only kidding… Or am I? No, I’m really just kidding.

Thanks NY Mag!