All Things D: In reporting its earnings today, Time Warner said that revenues in its Time Inc. magazine division were down, but not as much as they had been in previous quarters.

E&P: Marcia Bullard president of USA Weekend, USA TODAY‘s weekend edition, is retiring at the end of March. She will be replaced by publisher Charles Gabrielson, who will be adding the title of president to his responsibilities.

MarketWatch: Steve Forbes: online revenues won’t replace advertising.

Advertising Age: Like Time Inc.’s earnings, magazines are still reporting declines in circulation, they’re just not as steep as they have been in recent months.

Observer: A Harper’s Magazine exec eavesdropped while his boss was being interviewed by New York Times reporter Stephanie Clifford.

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But, it didn’t take long for the media to catch a whiff of sometimes smelling off. That same afternoon, The New York Times reported that some Harper’s staffers were saying Hodge hadn’t left on his own; he had been “dismissed.”

Today, the Times has a more in-depth piece about the shift at Harper’s, opening with a description of a meeting led by the magazine’s president and publisher, John R. MacArthur last week:

“In a rambling 40-minute monologue that left many attendees perplexed, Mr. MacArthur, 53, talked about the problems facing Harper’s: readership was down 35,000, newsstand sales were plummeting, the only direct-mail piece that seemed to work was 20 years old. Worse, Harper’s seemed irrelevant — ‘the mainstream media is ignoring it to death,’ he said — according to people who were at the meeting.”

MacArthur did not talk about Hodge, who the Times now reports definitively, was fired early last week.

While the struggles of Harper’s are nothing new within the industry, its story is unique in that it’s one of the oldest magazines in the country and a nonprofit to boot. Although the nonprofit model has been touted as a possible savior of the industry, Harper’s should serve as a model for the rest. Is it truly independent? How long can it last?

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Yesterday was a somber day at The New York Times, as the paper bid farewell to all of the newsroom staffers who agreed to to take buyouts. We’ve heard from Times-ers that the rumor among staff is that 75 people have agreed to the buyouts including metro reporter Jennifer 8. Lee, a surprise that came out late yesterday. (There’s a list of around 40 here and Keith Kelly reported last week that only 50 unionized workers were taking the buyouts.) But, if that number is right, that means that only around 25 will have to be laid off as early as next week in order for the paper to reach its goal of 100 eliminated staffers, unless execs decide that even more cuts are needed. We’ll have to wait and see how that develops over the next few days. (Have any info? Send us an email or leave a tip at right.)

In the meantime, we were quite moved by all the loving tweets coming out of the Times building yesterday, as reporters bid a fond farewell to so many of their colleagues. After the jump, more thoughts from Times reporters throughout this sad day.

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Stephanie Clifford reports that as its parent company Time Warner prepares to report its third quarter earnings next week, the magazine publisher is expected to announce that it will cut $100 million in costs. Anonymous sources told Clifford these cuts will “come largely from layoffs,” although a union rep said he hadn’t heard of any coming next week. (A number of Time Inc. employees are covered by a union contract.)

$100 million is a lot, but not compared to what Time Inc. is predicted to report in decreased revenue during the third quarter. As Clifford writes:

“Michael Nathanson, an analyst at Sanford C. Bernstein & Company, said that he expected third-quarter revenue at Time Inc. would fall about 19 percent, to $900 million.”

Time Inc. to Cut $100 Million; Extensive Layoffs Are Expected –New York Times

Earlier: Time Inc. Staffers Next On The Chopping Block?

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First, we asked Carr what he thought of Bloomberg LP’s acquisition of BusinessWeek. The media columnist was practically giddy with excitement. “It’s great news for people like you and me,” Carr told us, complaining that the media industry has been sorely lacking in fun deals to report on. “I couldn’t help but get involved in Stephanie’s story,” he said referring to the article about the deal he co-bylined with Stephanie Clifford for the Times yesterday.

Carr’s excitement was mirrored by BusinessWeek.com‘s John Byrne, who interviewed Netflix CEO Reed Hastings after lunch.

“There was a little activity at BusinessWeek this morning,” Byrne said. He then went on to say how happy he was to be going to work for Bloomberg, remarking that it was a “great place” for the business magazine to be.

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New Career Opportunities Daily: The best jobs in media.