Today’s mediab-istro.com Morning Media Menu podcast opened on a somber note as hosts Jason Boog of GalleyCat and AgencySpy‘s Matt Van Hoven revealed the conclusion of the months long investigation of McKinsey & Co. into Condé Nast.
According to reports, publishers at the veritable magazine publishing house are being asked to cut their budgets by around 25 percent. “It’s not clear how soon all of this is going to happen,” Jason said. “According to the Crain’s New York article, the cost cutting could begin as early as mid- to late October…but some people won’t have to worry about this until next year. Still, taking a 25 percent budget cut at a magazine is a pretty intense thing. It’s one-fourth of your budget. It’s going to rock a magazine.”
“It sounds like people won’t really know what’s happening until it happens,” Matt added. “I think folks there are pretty trepidatious about what is going to happen.”
Matt and Jason also discussed news that more college students are flocking to journalism programs. But will the salaries they will make after college justify the cost of studying journalism at a pricey college?
Also discussed: the Google book settlement’s set backs and the advantages to the project if it finally goes through. And protesters detained while distributing New York Post parodies in front of the News Corp. building.
You can listen to all the past podcasts at BlogTalkRadio.com/mediabistro and call in at 646-929-0321.