The mayhem in the media industry continues. The Wall Street Journal, a News Corp (NASDAQ: NWS) property, is closing its Boston bureau and sending nine employees into the wind. The newswire and MarketWatch operations are going to stay open in Boston, however, with no headcount impact.
The Journal doesn't have any plans to close other offices, according to a memo by managing editor Robert Thomson: "there are no plans, nascent or otherwise, to close any other U.S. or international bureau." The WSJ will still support an "investigative function" in Boston, but the New York-based Money and Investing team will cover Boston's mutual fund industry, which boasts such heavy hitters as Fidelity.
At the same time, magazine company Time Inc., owned by Time Warner (NYSE: TWX) is looking to cut $100 million in expenses, and layoffs will undoubtedly figure into the equation. The company that owns Time, Fortune, People and Sports Illustrated – and falls under the same umbrella as AOL, which owns BloggingStocks – is feeling the squeeze of a media recession that's even worse than the regular recession we've all been battling for what feels like decades.
Conde Nast is ditching Domino, the "style magazine that focuses on life at home." The magazine was launched in April of 2005, and CEO Charles H. Townsend said that the decision to abandon the projects was driven "entirely" by the economy.
Conde Nast's magazine empire is storied, full of names that lead their respective empires. Vogue is not only the leading women's fashion title in the world, but also the inspiration for many a book, movie, and TV show. Gourmet is the formidable leader in food magazines; 
In a time when print magazines such as 
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