Thousands of sweaty-palmed nerds are super psyched that their favorite place to creep on underage girls has returned. Reddit, the popular message board owned by Advance Publications, Conde Nast's parent company, has decided to revive its forum devoted to aggregating pictures of "jailbait."
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:
• You can rest easier now: Now that he's no longer planning to run for Senate, Chris Matthews has signed a new four-year contract with MSNBC. [NYT]
• Howard Dean has signed on to be a CNBC contributor. [HP]
• Major media companies are now looking for a bailout. From Google. [AdAge]
• Jay Leno's chat with Obama was his fourth most-watched show ever. [LAT]
• Some perks may be curtailed at Condé Nast. Like the one that allowed Portfolio editor Joanne Lipman to fly to Davos first-class, possibly. [NYP]
• Advance Publications is instituting mandatory 10-day furloughs and a pension freeze at nearly all of its daily papers, says Steve Newhouse. [E&P]
• Time publisher Don Fries is headed out the door. [NYP]
• NBC is very good at spinning the Times, in case you haven't noticed. [CJR]
• Knowing starring Nic Cage was No. 1 at the box office this weekend. [NYDN]
Here's our theory: Daily deadlines did in the newspaper industry. The pressure of getting to press, the long-practiced art of doom-and-gloom headline writing, the flinchiness of easily spooked editors all made it impossible for ink-stained wretches to look farther into the future than the next edition. Speaking of doom and gloom: Online ad revenues at several major newspaper chains actually dropped last quarter. The surprise there is that they ever managed to rise. The newspaper industry has a devastating history of letting the future of media slip from its grasp. Where to start? Perhaps 1995, when several newspaper chains put $9 million into a consortium called New Century Network. "The granddaddy of fuckups," as one suitably crotchety industry veteran tells us, folded in 1998. Or you can go further back, to '80s adventures in videotext. But each tale ends the same way: A promising start, shuttered amid fear, uncertainty, and doubt.
