Morning Media Newsfeed: Layoffs at Time Inc. | AllThingsD’s NBCU Deal | Fox News Exec’s Pay Out

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Layoffs Ahead at Time Inc. (Capital New York)
Time Inc. staffers were informed Monday that layoffs lie ahead in the New Year, Capital has learned. The publishing giant has implemented cuts in recent years while reining in costs. Less than a year ago, 500 jobs were slashed from the company, which owns magazines including Time, Sports Illustrated and People. During Time Inc.’s quarterly management meeting Monday morning, which convened the company’s top executives and other high-level employees, chief content officer Norm Pearlstine confirmed during an interview with Time managing editor Nancy Gibbs that the cuts will continue next year, according to three sources who were present. Ad Age / Media News Contrary to a report over the weekend, the spinoff is still on track for the second quarter of 2014, according to Time Inc. CEO Joe Ripp, who appeared at the meeting along with Pearlstine and CFO Jeff Bairstow. minOnline In third-quarter 2013, Time Inc. revenue fell to “$813 million from $838 million [in third-quarter 2012], which is part of a pattern that extends back at least to 2008,” according to a recent document filed with the Securities and Exchange Commission that was a preliminary to the initial public offering. Adweek Fortune has a meager online presence, having been a channel of JV partner over the course of their eight-year partnership. (Fortune doesn’t say what its dedicated traffic is, but one person familiar with the business estimated it to be around 2 million monthly uniques.) Come next May, that partnership is set to dissolve, leaving Fortune on its own to start a new financial news website.

AllThingsD Editors Are Said to Complete NBCUniversal Deal (Bloomberg)
AllThingsD editors Walt Mossberg and Kara Swisher, who are leaving News Corp. at the end of the year, completed a deal with NBCUniversal for a news and conference business that will bring their current staff to a newly named website, according to people familiar with the matter. Mossberg and Swisher will have majority control of the venture, with NBCUniversal and another unnamed investor together taking about a third of the business, according to one of the people, who asked not to be identified because the matter is still private. The new business tentatively plans to announce the agreement on Jan. 2, they said. Politico / Dylan Byers on Media Mossberg and Swisher, who announced their intention to split with Dow Jones in September, will have majority control of the venture and will move their staff with them en masse. Variety Swisher and Mossberg founded AllThingsD in 2007 as an offshoot of the WSJ’s “D: All Things Digital” conference. Following the split, Dow Jones will retain the rights to the AllThingsD brand.

Fox News Paid Fired Executive $8 Million to Keep Quiet (Gawker)
Roger Ailes’ secrets command a heavy price. Last week, The New York Times reported that Fox News had reached an out-of-court settlement with Brian Lewis, the former Roger Ailes aide who was abruptly fired in late July. A Fox News executive with knowledge of the negotiations told Gawker that Lewis was paid approximately $8 million in hush money. PRNewser The biggest scoop in the Gawker reveal is that Lewis’ firing had absolutely nothing to do with accusations of “financial improprieties,” which were apparently as fake as that New Jersey waitress’ story about a customer who refused to tip her because she was a lesbian. It was all about Lewis’ relationship with New York magazine’s Gabe Sherman and his upcoming book about the network. Seems the Fox PR team couldn’t agree on how to discredit Sherman and that Lewis’ insistence that the team engage rather than ignore ultimately led to his firing. The Washington Post / Erik Wemple It’s tempting to dismiss the dollar figure cited by Gawker. After all, it hinges on a single anonymous source. Then again, The New York Times story adheres to that same standard.