Gourmet Lives! Conde Nast CEO Chuck Townsend just announced plans to bring back the recently shuttered food title, not as what previously existed in print, but rather as a digital interactive experience that leverages its massive database of recipes, branded merchandise and social network. “We see tremendous upside in leveraging social networks,” said Townsend, and Gourmet Live appears to be the trial balloon.

Former Gourmet editor Ruth Reichl guested on NPR’s Leonard Lopate show yesterday to talk about Gourmet‘s “shocking” demise, and the immediate aftermath (they had to be out of the office almost immediately). Also, how she was informed of the news and how she informed her staff.

Shortly after Conde Nast announced this week’s closures Mediaite obtained a memo to the digital staff from Condé Nast Digital svp Drew Schutte suggesting the clock was ticking with regards to the websites of the shuttered magazines. Does this mean we should just expect more of the same on the Conde Nast Digital front? Meaning: not much.

Slate’s Jack Shafer comparing the fate of Conde Nast to that of that other overreaching, reality-ignoring American powerhouse, General Motors. Next up: Graydon Carter and Anna Wintour fly to Washington in their private jets to beg for a bailout!

the shuttering of Gourmet remains to many the biggest shock of today’s Condé Nast layoffs. The fate of its equally well-known editor Ruth Reichl is unknown right now, though considering the company plans to keep both the publishing and television arm of Gourmet active chances are they will find a place for her. That said, what does Reichl’s precarious position say about the fate of Condé’s other high profile editors?

The wait is, sadly, over. After months of speculation, the painful results of McKinsey’s evaluation of Condé Nast are in and it’s not pretty. Condé has just announced that it plans to shutter Gourmet, Cookie, Modern Bride, and Elegant Bride. CEO Chuck Townsend’s full memo after the jump.

UPDATE: Drew Schutte: “Cookie.com and Gourmet.com sites will remain up at least through the end of the year.”

You know reality is really biting at Condé Nast these days when Graydon Carter is taking his bites in the cafeteria! [Or is it? A reader tells us it's actually happened before! Back when things were good!] Cry me a McKinsey river!

It seems that the economy hasn’t just killed ad sales at Condé, it’s killed the myth of Condé. They are no longer the envy of the magazine world. Of course who is these days? Maybe David Remnick?

The Observer’s John Koblin reports that the headline coming out of a recent publisher’s lunch hosted by Conde Nast President Chuck Townsend? Your magazine must make a profit. Shockwaves soon rippled throughout 4 Times Square as everyone was quick to wonder – which of the well-heeled titles are currently profitable and who should be polishing off their resumes?

Looks like the reality has finally caught up to Conde Nast. A tipster passed on this email, which was just sent out to all Conde Employees informing them that the company has been forced to rethink “the way we do business in many instances and incorporate efficiencies in every step of our process.” Short version: tighten your Gucci belts kids and put on your walking shoes, no more Town Cars in your future!

As President and CEO of Meredith Corporation, Steve Lacy is second only to Time Inc.’s Ann Moore ranked in the Magazine Titan category of the Power Grid, outranking other stalwarts of print including Conde Nast’s Chuck Townsend, Hearst’s Cathie Black and Rodale’s Steve Murphy. What?