• New York Times union members approved a five percent pay cut last night, which takes effect today. Meanwhile, the NYT will resume negotiations with the Boston Globe's largest union at 5pm this afternoon. [NYP, E&P]
• The Onion is killing off its LA and San Francisco print editions. [Gawker, MP]
• How desperate has NBC become? Execs have announced that Jay Leno "is not afraid to experiment with live commercials and with sponsorships." [AdAge]
• Better news for NBC: It scored big with its coverage of the Derby. [NYP]
• Ad spending in the fourth quarter fell 9.2% from a year earlier. [WSJ]
• Writers gathered last night to say goodbye to the Times' City section. [NYO]