Yesterday the Globe's main union rejected a proposal from its parent company, the New York Times, that would've resulted in 10% employee pay cuts. The Times then announced a 23% pay cut instead, which slightly upset the Globe's union.

Yes, the newsroom union of the Boston Globe rejected a contract proposal yesterday, causing the NYT Co. to say it will cut their pay by 23%. But then the reporters called Pinch Sulzberger a "mensch," so now it's all good!

• The Boston Newspaper Guild, the Boston Globe's largest union, narrowly rejected a package of pay concessions and benefit cuts last night. [NYT]
• David Letterman is close to signing a new, 3-year contract with CBS. [THR]
• Conan O'Brien has beat Letterman in the ratings every night since his show debuted last week. But that may very well change pretty soon. [Vulture]
• Rachael Ray's talk show has been renewed for two more seasons. Alas. [THR]
• Glenn O'Brien is out as Interview's editorial director. [Daily Intel, FWD]

The Boston Globe lost $50 million last year. It's projected to lose $85 million this year. So the New York Times Co. asked the newsroom to accept a package of cutbacks. Yesterday, they voted "no." Now they're really getting screwed.

• Is Harvey and Bob Weinstein's film company headed for bankruptcy? That remains unclear, although the Weinstein Co's decision to hire Miller Buckfire to restructure its finances isn't a good sign, that's for sure. [NYT]
• Members of the Boston Newspaper Guild are voting today whether to accept the package of pay cuts proposed by the New York Times Co. [PC]
• Stephen Colbert is broadcasting from Iraq this week. In addition to an interview with the president, Colbert will get a military-style makeover. [NYT]
• Journalists Laura Ling and Euna Lee were sentenced to 12 years of hard labor by a North Korean court late last night. The Obama administration has vowed to keep up its lobbying effort. And in the meantime, employees at Current TV—where both women work—continue to keep quiet about the matter, per instructions from network management. [NYT, AP, NYT]

Today is showdown day! In one corner: the Boston Globe, a storied failing newspaper. In the other corner: the NYT Co., a storied failing newspaper company. Neither one will give in until they're both dead.

In your all wet Friday media column: Hachette figures out how to get money, ABC figures out how to save money, the NYT Co. vows not to lose money, and a website that will not make money:

In your woozy Wednesday media column: multiple music magazines die, the Boston Globe thinks it's too tough to kill, Harvard newsies can't find jobs, Surface magazine gets a cheaper office, and a report from the newspaper conspiracy meeting:

• Stephen Colbert will be Newsweek's guest editor next week. [NYO]
• Conan O'Brien's second Tonight Show dropped 30 percent from Monday's record-setting premiere, although that was probably to be expected. [THR]
• For the third straight month, MSNBC bested CNN in the cable news ratings. Fox News remained in first place, as usual. [Daily Finance]
• More bad news for CNN: Campbell Brown returned from maternity leave this week and immediately returned to fourth-place in the ratings. [THR]
• A new Harvard Business Review study reveals that 10 percent of Twitter users account for more than 90 percent of Twitter messages sent. [AdAge]
• Jon & Kate Plus 8 is still generating obscene ratings, sadly. [AP]

Globe-flattening mustache habitrail Thomas Friedman, who's never met a hype-spouting CEO he wasn't incredibly impressed by, is no friend of the working man, this we know. But he's currently ruining labor talks at the Boston Globe, just by being his annoying self.

• Union members at the Boston Globe will vote on the controversial concession package proposed by the New York Times Co. on June 8. [E&P]
• Last week's broadcast of Meet the Press earned the NBC chatfest its lowest ratings since David Gregory took over as moderator. [HuffPo]
• Supermarket tabloid smackdown: Us Weekly is standing up for integrity in journalism (and Brangelina) by waging war against In Touch. [TMZ, Gawker]
• Who says magazines are dead? The publisher of Interview is in the process of launching a quarterly design magazine called Modern. [Folio]
• Neil Patrick Harris will host the 2009 Tony Awards on June 7. [AP]
• The two American journalists who were first detained in North Korea two months will go on trial for "hostile acts" on June 4. [NYT]

• CBS posted a first-quarter loss as the ad recession took its toll. [THR, NYT]
• News Corp. reported a 70 percent drop in quarterly profits. [LAT, B&C]
• Profit dropped by 46 percent at Warner Music during the same period. [PC]
• Sirius XM posted a $236 million quarterly loss and also announced that its number of subscribers declined for the first time ever. [AP]
• Cablevision plans to "explore" a spinoff of Madison Square Garden. [NYT]
• News Corp. chairman Rupert Murdoch says he plans to charge readers to access the online content of his newspapers in the near future. [E&P]
• The new Bob Dylan album is No. 1 on the charts this week. [THR]
• Felix Dennis says The Week is for sale. For just $200 million. [Folio]

In your survivalist Thursday media column: Domino staffers sell their swag, Boston Globe staffers give in, magazine staffers pull pranks, and more:

Amazon.com CEO Jeff Bezos unveiled the Kindle DX, a large-screen e-reader, today at the site of the New York Times's former headquarters in Lower Manhattan. The message: He's the future and newspapers are the past.

• Walt Disney reported that profits plunged 46% last quarter. [Variety, WSJ]
• Mort Zuckerman's plan to save newspapers involves bingo. Really! [NYM]
• The New York Times Co. has reached a deal with the unions at the Boston Globe, although it may take a few weeks to vote on the compromise. [E&P]
• NBC's Washington headquarters is contaminated with asbestos! [NYO]
• Tricky Dylan Ratigan isn't joining ABC after all. He's going to MSNBC. [Gawker]
• Michael Wolff may hate the New York Times, but if it weren't for the Times, he'd probably have nothing to rant about on his unknown website. [HP]
• Amazon unveiled its fancy, new Kindle reader today. [NYT, E&P]

Leave it to the tabloid sensationalists at the New York Times Co. and in the Boston Globe newsroom to make labor negotiations exciting. Their complex labor deal to save the paper is TOP SECRET.

• New York Times union members approved a five percent pay cut last night, which takes effect today. Meanwhile, the NYT will resume negotiations with the Boston Globe's largest union at 5pm this afternoon. [NYP, E&P]
• The Onion is killing off its LA and San Francisco print editions. [Gawker, MP]
• How desperate has NBC become? Execs have announced that Jay Leno "is not afraid to experiment with live commercials and with sponsorships." [AdAge]
• Better news for NBC: It scored big with its coverage of the Derby. [NYP]
• Ad spending in the fourth quarter fell 9.2% from a year earlier. [WSJ]
• Writers gathered last night to say goodbye to the Times' City section. [NYO]

The Boston Globe will not be shutting down just yet. The paper came to enough of an agreement with most of its unions to avoid immediate closure. They're still at war with the journalists, though:

• Tense negotiations over proposed budget cuts continue between the New York Times Co. and unions that represent workers at the Boston Globe; in the meantime, the Times has postponed plans to shut down the paper. [NYT, WSJ]
• Another way the Times is planning to rake in some much needed cash: It may raise newsstand prices as early as this week. [FT]
• NBC announced several shows that it plans to add to primetime. One show noticeably missing from the lineup: Law and Order. [Variety, NYT]
• Ex-Portfolio publisher William Li has landed at Condé Nast Traveler. [NYO]
• A positive aspect to the cuts at Conde Nast? Media buyers "say that publishers and salespeople are becoming easier to work with. [Crain's]
• Wolverine grossed a whopping $87 million at the box office. [Variety]

The New York Times Co. Sunday night said it would shut down the Boston Globe if its cost-cutting demands weren't met. As it's been saying for a month. The deadline came and went. And?