Online ad sales were good — According to the Interactive Advertising Bureau’s latest report, ad revenues in the first half of 2008 were up 15.2 percent over the same period in 2007. But most pundits say the drop off for late 2008 will be sharp. After all, history shows a strong link between the U.S. GDP and ad sales. Seeing the writing on the wall, Gawker Media laid off 19 people last week. [Sources: Seeking Alpha, Media File, Silicon Alley Insider, New York Times]

Staff cuts at the Los Angeles Times — Insiders say the paper may eliminate as many as 75 positions today. Meanwhile, it’s firing its third culture editor since Sam Zell’s leveraged buyout in April 2007. [Source: Poynter Online, Nikki Finke’s Deadline Hollywood Daily]

Ad Age magazines of the year — While Advertising Age announced its “A list” of 2008’s top ten magazines on Monday, Ad Age columnist Simon Dumenco gave his own “Vanguard Awards” to magazines that are “innovating smartly outside of print.” [Source: Advertising Age]

Hulu will air debates live — Tonight’s presidential debate will stream live on hulu.com. This is the site’s first experiment with live streaming since its launch. [Source: CNET]