• Tom McGeveran took over as editor of the Observer after Peter Kaplan made his exit this spring, but now he's headed out the door as well. [NYO]
• Layoffs: The cuts at Condé Nast continue though they should end soon; the layoffs at Forbes this week were deep ones: 1 in 4 editorial staffers were let go.
• Newsday's website erected a pay wall today. Good luck with that. [E&P]
• The Michael Jackson movie This Is It sold $2.2 million in tickets on its opening night, which is pretty good considering it was a Tuesday. [LAT, NYT]

• Magazines: People's issue with Nicole Richie on the cover bombed. In more cheerful news, Michelle Obama appears on the cover of Glamour's December issue and dishes out some dating advice, too. (Don't go for the cute guy.)
• Tonight Show ratings are down, although NBC's not sure who to blame. [NYT]
• If White House officials are having any second thoughts about starting up a war with Fox News, they're not saying so. [US News]
• Money talks: Glenn Beck's PR guru is avowed Democrat Matt Hiltzik. [WP]
• CBS Interactive chief Quincy Smith is stepping down. [BW]
• Barry Diller may be putting Ask.com up for sale, if you're interested. [NYP]