Media Roundup: Cuts at NPR, People.com Thriving, and More

(MoneyWatch)  NPR announces cuts -- National Public Radio will cut 64 employees, or seven percent of its work force. Many of those cut will come from cancelled shows Day to Day and News and Notes. NPR also noted that corporate sponsorships are also down, thus increasing the company's projected operating deficit from $2 million to $23 million. [Source: PaidContent]

Newsweek trims down -- Newsweek will cut staff, subscriptions and pages while increasing the amount of editorializing in its content. The magazine plans to rely less on expensive original reporting and more on Economist-style analysis. [Source: Silicon Alley Insider]

American Media may file for bankruptcy -- The publisher of Star Magazine and the National Enquirer missed the final deadline of an interest payment. A filing may be avoided through negotiations that would have its primary stakeholders give up 95% of their shares. [Source: NY Post]

Blogging service Tumblr raises $4.5 million -- One of the few Web 2.0 companies able to get funding in the current environment, Tumblr, a simplified blogging service, has announced its latest round of financing led by Union Square Ventures and Spark Capital. Tumblr's 22-year-old founder, David Karp, plans to sell premium features for revenue. [Source: TechCrunch]

People.com booming -- Page views are down at celebrity blogs like TMZ, but are increasing at People.com, People Magazine's Web division. The site is also pulling in enough revenue to place it in the top 10 of Time Inc.'s media properties. [Source: All Things Digital]

NBA to show All-Star game in 3D theaters -- The game will be shown on up to 160 screens across the country. Tickets will likely sell between $18 and $22. [Source: CNET]

Hearst Newspapers president resigns -- George Irish announced today he was leaving his post after nearly 11 years. Steven Swartz is set to replace him. [Source: Editor and Publisher]