Must-Read Media Links

The New York edition of Time Out is on the auction block with a cover price of up to $40 million after backers of the weekly magazine pressed for a sale in an attempt to generate profit on their 13-year investment. (Times Online)

Which Jezebels Went Part-Time; Nick Denton on Gawker Cuts (Fishbowl NY)

Conde Nast Chairman S.I. Newhouse Jr. is denying reports that he is wooing the editor of French Vogue to become the new editor of the company’s flagship, American Vogue. (NY Post)

People’s Larry Hackett to hand out pink slips (NY Post)

Conde Nast shutters YM.com following closure of Flip (Mediaweek)

$2.6 Billion spent on political ads in 2008 (NY Times)