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fred
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Posts: 8192
From:Redmond, WA
Registered: Apr 2000

posted October 09, 2009 08:39 AM     Click Here to See the Profile for fred   Click Here to Email fred     Edit/Delete Message   Reply w/Quote
Condé Cuts Continue: 15 at Digital, More to Come

by Peter Kafka

Condé Nast, which shuttered four magazines this week, has said it won’t be cutting any more titles. But that won’t be the last of its cuts: The publisher is looking to take out roughly 25 percent of costs at each of the magazines it publishes, so it is very likely that’s going to lead to layoffs in many cases.

Today’s example doesn’t come from a magazine per se, but from the company’s digital group, which let go of “more than” 15 people, MediaWeek reports.

You should see a trickle of these reports in the weeks to come, and from other publishers as well: Employees at Time Warner’s Time Inc (TWX), for example, are bracing for cuts this fall, or in early 2010, and my former colleagues at Forbes expect to hear about another set of layoffs in the next week or so. And whoever wins the bidding for BusinessWeek will almost certainly take an axe to that company’s payroll.

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HollywoodProducer
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Posts: 2778
From:La Canada
Registered: Jun 2000

posted October 13, 2009 05:03 PM     Click Here to See the Profile for HollywoodProducer   Click Here to Email HollywoodProducer     Edit/Delete Message   Reply w/Quote
Bloomberg plans to take over BusinessWeek magazine

By MICHAEL LIEDTKE, AP Business Writer

SAN FRANCISCO – Bloomberg LP is buying BusinessWeek magazine in a deal that brings together a financial news service specializing in rapid-fire updates with a print publication struggling to adapt to the Internet's information whirlwind.

Terms of the sale announced Tuesday were not disclosed. Citing unnamed people privy to the negotiations, BusinessWeek pegged the acquisition price at $2 million to $5 million in cash. Bloomberg also would be responsible for paying other costs, such as severance pay to any of the roughly 400 BusinessWeek employees who might be laid off, the magazine's Web site reported.

Bloomberg LP, a privately held company started by New York Mayor Michael Bloomberg, expects to take control of BusinessWeek by the end of the year. That ends BusinessWeek's 80-year run as part of McGraw-Hill Cos., which also owns the Standard & Poor's credit rating agency.

New York-based McGraw-Hill put BusinessWeek on the auction block in July, apparently fed up with the losses that have been mounting at the magazine as its advertising revenue plunged.

The acquisition represents one of Bloomberg's boldest and riskiest attempts to extend its audience beyond its main mode of communication — the roughly 300,000 electronic terminals that it has set up in the offices of money managers, traders, bankers and other financial services professionals around the world.

"BusinessWeek helps better serve our customers by reaching into the corporate suite and corridors of power in government, where news that affects markets and business is made by CEOs, CFOs, deal lawyers, bankers and government officials who typically are not terminal customers," said Daniel L. Doctoroff, Bloomberg's president.

Like many print publications, BusinessWeek has been reeling from a one-two punch: the longest U.S. recession since World War II and a massive shift in media consumption that has driven more advertising online, where prices are generally much lower than in print.

BusinessWeek also has been trying to figure out how a weekly magazine can remain relevant at a time when financial and corporate news is plastered all over the Web around the clock. As part of its coping mechanism, BusinessWeek has sharpened its focus on its corporate audience and trimmed its coverage of general-interest topics, such as sports and culture.

Bloomberg didn't immediately discuss how it might reshape the magazine's coverage or how its takeover will affect the publication's staff.

It appears those decisions will left to Norman Pearlstine, a former managing editor for The Wall Street Journal and Time Inc.'s former editor-in-chief. Currently Bloomberg's chief content officer, Pearlstine will become BusinessWeek's chairman.

"Norm's role will ensure that we fully capitalize on the combined strengths of Bloomberg and BusinessWeek," said Matthew Winkler, editor-in-chief of Bloomberg's news service.

BusinessWeek's current top editor, Stephen Adler, also is an alumnus of The Wall Street Journal, which he joined in 1988 while Pearlstine was still a top editor there. There was no immediate word Tuesday on how Adler fits into Pearlstine's plans.

With a circulation of about 921,000, BusinessWeek has been doing a better job retaining subscribers than advertisers. The total number of advertising pages sold by the magazine has plummeted from a peak of 6,000 in 2000 to fewer than 1,900 last year, according to the Publishers Information Bureau.

The ad decline has deepened this year with the volume falling another 37 percent through June. The deterioration is expected to saddle the magazine with about $40 million in losses for the second consecutive year, including office rent and other overhead, according to internal figures cited by BusinessWeek.

Despite BusinessWeek's woes, the magazine attracted interest from several private equity firms and other media investors, including Bruce Wasserton, the owner of New York magazine, and Joe Mansueto, the owner of two business publications, Fast Company and Inc. The other bidders were reported by BusinessWeek.

Other struggling magazines haven't even had a chance to turn around under new owners. Just last week, Conde Nast Publications decided to close Gourmet magazine, ending a 68-year run to the dismay of food connoisseurs. Earlier in the year, Conde Nast pulled the plug on a BusinessWeek rival, Portfolio magazine.

Besides distributing stories generated from Bloomberg's staff of 2,200 reporters, editors and photographers, the company's terminals also display a wide range of market and economic data that help shape investment decisions. The service is the main reason Michael Bloomberg ranks among America's richest people, with a fortune of $17.5 billion, according to Forbes magazine estimates.

This is the second deal announced this month that gives Bloomberg a new springboard to reach a wider audience. It is also joining forces with The Washington Post in a partnership that will put Bloomberg stories in the Post's print edition and Web site and include a jointly operated news service targeting other newspapers.

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fred
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Posts: 8192
From:Redmond, WA
Registered: Apr 2000

posted November 11, 2009 04:30 PM     Click Here to See the Profile for fred   Click Here to Email fred     Edit/Delete Message   Reply w/Quote
The Last Magazine Standing

By John Koblin

November 10, 2009

Magazines are shrinking—smaller staffs, fewer writers, fewer stories written per writer, fewer words for each story—but The New Yorker continues to look, remarkably, about the same as it did five years ago, even as its parent company has cut hundreds of jobs and folded a handful of titles in the past few weeks.

The New Yorker has never published a masthead. But four and a half years ago, this newspaper assembled the magazine’s staff list and published it to look like one. Since then, some editors, researchers and writers have left, and been replaced by new talent. The magazine has gotten a little younger too (witness the hiring of Ryan Lizza, Nick Trautwein, Ariel Levy, and 26-year-old managing editor Amelia Lester). But one thing has stayed the same: the sheer size of the magazine’s editorial staff.

“In order to do what we do, we need a sizable staff,” said editor in chief David Remnick in an interview. “We don’t publish 10 issues a year, or 12 issues a year. We publish 46.”

“If The New Yorker is going to be worthy of the name,” he continued, “and achieve a level of prose or accuracy or depth, or if it’s going to give the reporters or writers the time they need to achieve what I hope we can achieve, we can’t do it with a minuscule staff.”

We assembled the list through interviews with staffers and contributors notes in back copies and online. Keep in mind that because of the unique, internal logic of the magazine, job titles are a strange thing—someone who may be a staff writer may have only contributed a single piece in the last few years. Here’s what we pulled together.

Editor: David Remnick
Deputy Editor: Pamela McCarthy. Executive Editor: Dorothy Wickenden. Editorial Director: Henry Finder
Articles Editor: Susan Morrison. Features Editor: Daniel Zalewski. Fiction Editor: Deborah Treisman
Senior Editors: John Bennett, Virginia Cannon, Leo Carey, Amy Davidson, Nick Trautwein
Managing Editor: Amelia Lester
A-Issue editor: Silvia Killingsworth
Assistant Editors: Andrea Thompson, Lizzie Widdicombe
Deputy Fiction Editor: Cressida Leyshon
Senior Fiction Editor/Staff Writer: Roger Angell. Assistant Fiction Editor: Carin Besser
Fiction Staff: Brandon Jacobs-Jenkins, Stanley Ledbetter
Poetry Editor: Paul Muldoon
Poetry Associate: Jenna Krajeski
Goings on About Town Editor: Ben Greenman
Goings on About Town Staff: Richard Brody, Russell Platt, Andrea Scott, John Donohue, Shauna Lyon
Web Editor: Blake Eskin
Blogs Editor: Rollo Romig
Book Bench/Book Club Editor: Macy Halford
Web News Editor: Avi Zenilman
Web Projects: Kelly Bare
Senior Web Producer: Sally Law
Web Producers: Eric Lach, Thessaly La Force
Multimedia Producer: Mengfan Wu
Web Production: Maureen Newmeyer

Critics: Joan Acocella (Dance), Hilton Als (Theater), David Denby (Movies), Anthony Lane (Movies), Sasha Frere-Jones (Pop Music), Paul Goldberger (Architecture), John Lahr (Senior Drama Critic), Nancy Franklin (Television), Alex Ross (Music), Peter Schjeldahl (Art), James Wood (Books).

Staff Writers: Jon Lee Anderson, Ken Auletta, Burkhard Bilger, Katherine Boo, Peter J. Boyer, Connie Bruck, Bill Buford, John Cassidy, John Colapinto, Steve Coll, Lauren Collins, William Finnegan, Frances FitzGerald, Jonathan Franzen, Ian Frazier, Tad Friend, Atul Gawande, Malcolm Gladwell, Dana Goodyear, Adam Gopnik , Philip Gourevitch, David Grann, Jerome Groopman, Alma Guillermoprieto, Seymour M. Hersh, Hendrik Hertzberg, Peter Hessler, Raffi Khatchadourian, Elizabeth Kolbert, Jane Kramer, Nicholas Lemann, Jill Lepore, Ariel Levy, Ryan Lizza, Larissa MacFarquhar, Janet Malcolm, Patricia Marx, Jane Mayer, Ben McGrath, John McPhee, Rebecca Mead, Louis Menand, Susan Orlean, Evan Osnos, David Owen, George Packer, Ian Parker, Nick Paumgarten, Richard Preston, Lillian Ross, Claudia Roth Pierpont, Kelefa Sanneh, Simon Schama, John Seabrook, David Sedaris, Mark Singer, Michael Specter, James B. Stewart, James Surowiecki, Margaret Talbot, Judith Thurman, Calvin Tomkins, Jeffrey Toobin, Calvin Trillin, Alec Wilkinson, Lawrence Wright

Art Director: Caroline Mailhot
Assistant Art Director: Nick Vokey
Cover Editor: Francoise Mouly
Cartoon Editor: Bob Mankoff
Illustration Editor: Christine Curry
Illustration Associate: Max Bode
Visuals Editor: Elisabeth Biondi
Photo editors: Whitney Johnson, Honore Brown
Picture Researcher: Jessie Wender
Art Assistants: Emily Kan, Maria Lokke, Katie Long, Adam Moerder
Cartoonists and Cover Artists:
Tom Bachtell, Harry Bliss, Barry Blitt, George Booth, Roz Chast, Michael Crawford, Eric Drooker, William Hamilton, Zachary Kanin, Ana Juan, Edward Koren, Lee Lorenz, Lornezo Mattoti, Bruce McCall, Warren Miller, Frank Modell, Peter de Seve, David Sipress, Art Spiegelman, Edward Sorel, Mark Ulriksen, Chris Ware, Robert Weber, Jack Ziegler
Photographers: Sylvia Plachy, Platon, Robert Polidori, Steve Pyke, Martin Schoeller

Head of Copy: Ann Goldstein
Copy Staff: Carol Anderson, Ty Baldwin, Diane Belfrey, Andrew Boynton, Meredith Davis, Jeffrey Gustavson, Mary Hawthorne, Jennifer Koontz, Sarah Larson, Ken Marks, Mary Norris, Margaret O,Connell, Elizabeth Pearson-Griffiths, Victoria Raab
Head of Checking: Peter Canby
Deputy Checking Heads: Michael Peed, Nandi Rodrigo
Fact Checkers: Nana Asfour, Martin Baron, Katia Bachko, Lila Byock, Siobhan Devine, Tim Farrington, Sameen Gauhar, Christopher Glazek, Hannah Goldfield, Chris Jennings, Jennifer Stahl, Scott Staton, Jessica Weisberg, Reeves Wiedeman, Andy Young
Editorial Assistants: Adrienne Bernhard, Bruce Diones, Deirdre Foley-Mendelssohn, Brenda Phipps, Lauren Porcaro, Yvette Siegert, Katherine Stirling

Head of Makeup: Pat Keogh
Deputy Head of Makeup/Special Projects: Killian Schalk
Makeup Staff: Derrick Koo, Caitlin Martin, Elizabeth Minkel, Monica Racic
Head of Library: Jon Michaud
Deputy Head of Library: Erin Overbey
Editorial Business Manager: Risa Leibowitz
Assistant Editorial Business Manager: Jillian Kosminoff
Staff: Judy Callendar, Arlene Whilby
General Counsel: Lynn Oberlander
Assistant: Gina Ishibashi
Director of Editorial Events: Rhonda Sherman
Staff: Jen Berrio, Michael Schulman
Director of Public Relations: Alexa Cassanos
Public Relations Manager: Jaime Leifer
Public Relations Coordinator: Elizabeth Williamson

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fred
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Posts: 8192
From:Redmond, WA
Registered: Apr 2000

posted November 17, 2009 02:21 PM     Click Here to See the Profile for fred   Click Here to Email fred     Edit/Delete Message   Reply w/Quote

Layoff Rumors Flare At AP; Dozens Of Jobs Could Be Cut Today

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Associated Press staffers are preparing for what could be 70- to 80 layoffs today, as reports are seeping out regarding growing anxiety about possible cuts. Gawker cites an unidentified tipster and an AP staffer who say the layoffs will be discussed at a meeting in New York. So far, word of the job cuts at the wire service are still at the rumor stage, though the din surrounding layoffs are rising.

Tony Winton, president of the guild that represents 1,300 of the AP’s total 4,100 staffers, tells E&P that employee groups around the country have been told to assemble throughout the day. Several AP sources tell paidContent that that they mostly feel in the dark, but pretty much everyone there says they expect to be told of staff reductions.

In terms of numbers of guild job losses, a union rep says that the AP is required to provide a formal number of members who are singled out for dismissal. That isn’t likely to come until late tonight,

Paul Colford, an AP rep, declined to address the Gawker report or the rumors. Speaking in general terms, he referred to AP President and CEO Tom Curley’s announcement last November that the goal was to reduce global payroll costs—not necessarily headcount—by 10 percent in 2009. He wouldn’t go further than that, but some AP staffers have wondered if the company will announce more buyouts—about 100 staffers accepted packages to leave the company last summer—or institute salary cuts.

Update: For the 3,100 guild members, wage cuts and givebacks on benefits aren’t going to happen. In fact, the contract the AP and the guild hammered out last year calls for members to get a wage increase on Dec. 1. So in terms of cutting payroll, there’s a lot of things that come under that heading. Sources tell paidContent that the AP expects to slash budgets for stringers. Plus, the company’s other staffers, such as managers and administrative assistants, will also likely bear the brunt of the cuts, since they are outside the guild’s protection. So far though, the guild has been trying to keep up with calls from AP staffers who have been told they are being let go.

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HollywoodProducer
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Posts: 2778
From:La Canada
Registered: Jun 2000

posted August 04, 2010 05:52 PM     Click Here to See the Profile for HollywoodProducer   Click Here to Email HollywoodProducer     Edit/Delete Message   Reply w/Quote
Time Inc. CEO Ann Moore to step down
In a major shakeup at Time Warner Inc.'s magazine unit, Time Inc. Chief Executive Ann Moore is slated to be replaced by Jack Griffin, who recently left rival magazine publisher Meredith Corp., according to a person familiar with the matter. Ms. Moore has been CEO of Time Inc. since 2002, and she has worked for the magazine company for more than 30 years. Time Inc. publishes Time magazine, Sports Illustrated, Fortune, Real Simple and dozens of others titles in the U.S. and overseas. Mr. Griffin didn't immediately return a phone call seeking comment.

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RobinRafe
Director

Posts: 396
From:Sherman Oaks, CA
Registered: Apr 2000

posted August 05, 2010 08:39 AM     Click Here to See the Profile for RobinRafe   Click Here to Email RobinRafe     Edit/Delete Message   Reply w/Quote
Time to Go: Time Warner Set to Swap Out Magazine Boss Ann Moore

by Peter Kafka

A recurring question at Time Inc: Which executive at the publishing giant will take Ann Moore’s job when the CEO steps down?

Now we know: No one.

Time Warner (TWX) has gone outside the company to pluck Moore’s successor, recruiting Meredith Corp. (MDP) publishing boss Jack Griffin to take her place. Griffin left his post on Monday to “pursue another opportunity,” which turns out to be running the world’s largest magazine company.

Moore has been at Time Inc. since 1978, and has been running the company since 2002. She has a contract that runs through next year, but she’s apparently going to leave earlier than that. The New York Times reports that a formal announcement announcing the move is scheduled for next week.

That gives Time Inc. employees a few days to gather up a dossier on Griffin, who isn’t well-known in New York publishing circles. That’s either a virtue or a downside to running a company based in Iowa.

Press reports about the impending move suggest that Griffin is supposed to accelerate Time Inc.’s move into digital, and point to his track record of acquiring and integrating non-traditional assets like Hyperfactory, a mobile marketing company. But Meredith hasn’t been aggressive about moving onto the Web or platforms like Apple’s iPad so far. Then again, few of its titles — Ladies Home Journal, Better Homes and Gardens, etc — seem like natural digital plays.

And as I noted yesterday, Time Inc.’s paper-and-ink business is still a formidable one: Last quarter the company generated $153 million in operating income on revenue of $919 million. Profits were up 50%, due to layoffs and other cost cuts Moore has undertaken in the past few years, but revenue was flat.

Now it will be up to Griffin to move the top line, too.

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DavidChang
Director

Posts: 872
From:Toluca Lake, California
Registered: Apr 2000

posted March 27, 2012 10:48 AM     Click Here to See the Profile for DavidChang   Click Here to Email DavidChang     Edit/Delete Message   Reply w/Quote
'Harry Potter' Books Finally Go Digital for iPad, Kindle, Nook

No longer will Harry Potter fans have to lug around hefty hardcovers or paperbacks.

They are available for the iPad, Kindle, Nook and other e-readers, though they must be purchased through the Pottermore store.

The first three books in the series -- "Harry Potter and the Sorcerer's Stone," "Harry Potter and the Chamber of Secrets" and "Harry Potter and the Prisoner of Azkaban" -- are available for $7.99 each.

Books four through seven -- "Harry Potter and the Goblet of Fire," "Harry Potter and the Order of the Phoenix," "Harry Potter and the Half-Blood Prince" and "Harry Potter the Deathly Hallows" --- are $9.99 each.

The Complete Harry Potter Collection is for sale in e-book version for $57.54.

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DavidChang
Director

Posts: 872
From:Toluca Lake, California
Registered: Apr 2000

posted April 04, 2012 02:18 PM     Click Here to See the Profile for DavidChang   Click Here to Email DavidChang     Edit/Delete Message   Reply w/Quote
Incendio! Pottermore E-Book Sales on Fire.
Published on April 4, 2012
by John Paczkowski
The digital versions of J.K. Rowling’s Harry Potter books are among the most pirated in the world. So now that Pottermore’s e-bookstore has made them legally available for purchase, how are they selling? Quite well, according to Pottermore CEO Charlie Redmayne.

During an interview with Radio Litopia’s “The Naked Book” Wednesday afternoon, Redmayne said Pottermore sold more than $1.5 million worth of Harry Potter books in the store’s first three days online.

Which sounds pretty good considering how long the books have been available in stores and via torrent. Indeed, PaidContent, which has done the math (and was first to note Redmayne’s remarks), figures that at an average selling price of $9.13, some 164,000 Potter books were sold over those three days.

Which was far more than Redmayne or anyone at Pottermore had expected. “We had budgeted for a much lower figure,” Redmayne said. “I had looked at the physical sales of the books, and tried to anticipate what digital sales might be like, figuring that there was a certain amount of pent-up demand. But it surpassed anything we anticipated.”

And even now, a week after Pottermore’s debut, sales continue to astound. “They’re still running at a much higher rate than I was anticipating,” Redmayne explained. “They’re still surpassing anything I’ve ever seen for e-book sales. … Everything that Harry Potter does surpasses expectations.”

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DavidChang
Director

Posts: 872
From:Toluca Lake, California
Registered: Apr 2000

posted April 11, 2012 03:19 PM     Click Here to See the Profile for DavidChang   Click Here to Email DavidChang     Edit/Delete Message   Reply w/Quote
Amazon did a victory dance of sorts today after the Justice Department filed its e-book pricing antitrust case against Apple and five book publishers — three of whom (Hachette, HarperCollins and Simon & Schuster) have agreed to a proposed settlement. The e-retailer called it “a big win for Kindle owners” adding that it looks forward “to being allowed to lower prices on more Kindle books.” Barnes & Noble, which sells the Nook e-reader, had no comment. If a court approves, then Justice’s settlement with the three publishers would require them to let retailers including Amazon and Barnes & Noble set their own prices for e-books. It also would wipe out their most-favored-nation deals with retailers including Apple — agreements that guarantee other retailers won’t undercut their e-book prices. “In recent years, we have seen the rapid growth – and the many benefits – of electronic books,” Attorney General Eric Holder said. ”E-books are transforming our daily lives, and improving how information and content is shared. For the growing number of Americans who want to take advantage of this new technology, the Department of Justice is committed to ensuring that e-books are as affordable as possible.” Apple, along with publishers Macmillan and Penguin, have decided to go to court to fight the charges. Acting Assistant Attorney General Sharis Pozen sayd the Justice Department “will pursue vigorously our claims against those companies to ensure that consumers get the full benefits of the competition they deserve.”

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indiedan
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Posts: 8443
From:Santa Monica
Registered: May 2000

posted January 10, 2013 05:50 PM     Click Here to See the Profile for indiedan   Click Here to Email indiedan     Edit/Delete Message   Reply w/Quote
Time Inc. to lay off as many as 700; Cuts will come across the board – freeze wages (variety/NY Post)
Time Warner's Time Inc. will lay off up to 700 staffers out of just under 8,000 total as the publisher's new chief struggles to transform famous titles and massive market share into a digital profit center. The staff cuts will come sometime in the first quarter, said a person familiar with the company's plans, and will be across the board -- not just focused on editorial, where staffing has already been hard hit. A Time Warner spokesman declined comment. Time Inc. revenue fell 6% for the nine months ended in September to $2.5 billion. Profit dropped 14% to $220 million. During that period, it dominated 21.5% of overall domestic magazine advertising. Time's stable of 21 U.S. magazines and 25 websites includes Time, In Style, Fortune, People, Entertainment Weekly, Sports Illustrated and Real Simple. It has over 100 titles worldwide. For the third quarter, subscription revenue dipped 6% and advertising revenue eased 5%, echoing trends across the traditional publishing world as consumers digest information in new ways. Digital advertising and expanding readership on tablets and other mobile devices hasn't made up for losses elsewhere. Given the new face of publishing, Time Warner settled in late 2011 on Laura Lang, CEO of digital marketing agency Digitas, to run the business. She started just over a year ago. Time Warner will report fourth-quarter and full-year financial results on Feb. 6. One source said the publishing giant is looking to shave $100 million in costs by cutting between 500 and 700 jobs, which would be the largest set of layoffs in memory. In a memo to staffers, Lang revealed the no pay-raise policy for 2013, but avoided any direct talk of layoffs. “While we are evolving, the publishing business in the short term remains challenged. These are unavoidable facts,” she said. “As we position ourselves for growth in the future we must continue to aggressively manage costs. “After much thought and discussion, we have decided we must eliminate the annual merit increase in 2013.”

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