Pros
Great resources, lots of wonderful people, huge huge company so plenty of cool parties and benefits- not to mention the cheap cafeteria! Also always have updated tools and software which is unusual for a big company. Great 401K match and healthcare.
Cons
Everything moves like molasses. As with big companies (especially publishing) when things are going bad, it only gets addressed when it's too late. My whole team was laid off with probably a year of decline where something could have been addressed- but its the slow ignoring of problems and pretending publishing is doing great that will cause these big problems. As with big companies too, meetings about meetings are king- and doing any actual work falls to the side. Also only 2 weeks vacation for your first 3 years, and thats terrible compared to all the new modern companies out there.