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· More perfectly timed holiday layoff fun: MTV Networks let go close to 100 employees, a move the suddenly scary-looking Tom Freston might have been hinting at when he told THR yesterday, "We're looking very closely at a much leaner corporate overhead." Merry Christmas, pinkslipped "overhead"! [THR]
· Paramount signs a term sheet to sell the DreamWorks library to a number of private equity firms for somewhere between $900 and $950 million. We will not even attempt to sex up this move. [Variety]
· Time Warner cable will roll out "Family Choice Tier" cable package of "smut-free" programming. You know, the kind of smut that you find on Nickelodeon or the Cartoon Network, which are not a part of the package. [THR]
· After the disappointing Wednesday numbers for King Kong, execs are clinging to the hope that word of mouth, school vacations, and the South thawing will lure fans of the little monkey out of hiding. [Variety]
· Sometime actor Bruce Willis will take some time off from his promising vigilante-financier career to star in Morgan's Summit, playing a professionally nice guy who goes crazy for vengeance once a brutal crime changes his life. [Variety]