Rumors are swirling
that Conde Nast is buying one of publisher Jann Wenner's prized publications,
either Rolling Stone or Us Weekly. Portfolio's Jeff Bercovici says
Us Weekly, “a cash cow,” is likely on the block, noting that if Barack Obama were to win the presidency, it could result in a higher capital gains tax and make a sale
less profitable. Us Weekly's price
tag could
hit $750 million, says the New York
Post's Keith J. Kelly. A Wenner Media spokesman dismissed the rumors, first
raised
by PBS' Charlie Rose.
Also in the media
glare:
The Washington Post
is reportedly considering the
launch of a politics-only Web site.
CBS completes its
acquisition of CNET.
Former Los Angeles
Times reporter Ken Reich, who launched the anti-Zell Take Back the Times blog, dies
at 70 years old.
Wall Street Journal
chief political reporter Jackie Calmes leaves
the newspaper to cover national economic policy for The New York Times.
Fox News says
it was wrong to show graphic crime scene pictures of dead model Ruslana
Korshunova.