Crain Communications, which publishes TelevisionWeek and Advertising Age, announced layoffs at many of its more than 30 media properties and a 10% across-the-board salary cut, Advertising Age reports. “We hope the economy stabilizes soon, said chairman Keith Crain. “Our goal is to emerge from this recession as an even stronger company as we begin to look forward to our 100th anniversary in 2016.”
—Jon Lafayette