By Michael O'Connell Posted November 13, 2008, 1:00 PM EST
First reported by Gawker late last night, and confirmed by The New York Post this morning, Condé Nast has canceled its annual holiday luncheon for publishers and top editors.
Marred by a recent round of layoffs and rumors of financial distress at titles like The New Yorker and Domino, the company's announcement comes as little surprise. Spokeswoman Maurie Perl didn't refer directly to the economy but told The Post the decision is in “keeping with the times.”
Since the annual Christmas party ended in 1998, media enthusiasts and junior Condé staffers have looked to the intimate Four Seasons Restaurant luncheon to gauge the temperament of chairman S.I. Newhouse Jr. The event's seating chart has long served as an unofficial barometer of who is in and out of his favor, though Condé Nast has maintained this is just hearsay.