Steve Murphy resigned yesterday as CEO of Rodale. Reports that Murphy’s $3MM a year contract is set to expire at the end of this year begs the question – was Murphy departure part of as a cost cutting plan? And are seven figure salaries in publishing becoming a thing of the past?

The hits keep coming. In what appears to be another symptom of the current cost-cutting crisis afflicting the magazine’s, another well paid exec is stepping down. After 10 years of helping take Rodale to unseen heights in the publishing landscape, Steve Murphy is resigning as CEO. Mediaite has the internal memo…