Canwest credit line tightens

Canwest credit line tightens

The big bee that is over extension is coming back to bite a few companies in the butt, Winnipeg's Canwest can vouch for that. This is what happens when you spend years building an empire by paying too much for crappy assets.

Who's now going to buy newspapers in this digital age? Um - nobody. Most get the news for free on readers or other online sources. You don't need to plug a landfill or recyclying container with reports of uninteresting stuff that happened one or two days ago.

The only downside to all of this is that once again, the loyal employees will be screwed over when shutdowns or CCAA takes place. One only need look as far as Nortel to see what happens to the 'real people'.

Playboy restructuring print and online content

Playboy restructuring print and online content

As part of the restructuring, the company will consolidate its print and online operations in Chicago, keeping a “small editorial and sales presence in New York,” but it expects to sublet its existing office space and move some licensing, editorial and publishing positions to Chicago — a move that is likely to lead to more layoffs.

The company promoted Jimmy Jellinek, previously division senior vice president of digital content, to editorial director of combined print and online content. That appointment was first reported by The New York Post on Thursday. Jellinek, former editor in chief of Maxim, will report to Hugh Hefner and be based in Chicago. Chris Napolitano, former editorial director of the magazine, will now serve as editor at large based in New York, as family obligations have prevented Napolitano from making the move to the Windy City.