• NBC finally confirmed yesterday that it's canceling Jay Leno's 10pm show and moving him back to late-night. Whether Conan O'Brien stays at the network or jumps to Fox remains an open question for now. [NYT, TMZ, NYP]
• More bad news for NBC: The network expects to lose money broadcasting the Winter Olympics from Vancouver later this year, which would be a first. [NYT]
• Sarah Palin has signed on to join Fox News as a contributor. Exactly what she'll be doing there—and how much she'll get paid—is unclear. [NYT]
• In case you missed the front-page Times story about Fox News CEO Roger Ailes yesterday, he makes a ton of money for Rupert Murdoch, doesn't get along much with Murdoch's kids, and hates liberals. Oh, and he's armed. [NYT]
• TV news: NBC has ordered six new drama pilots for the fall now that the network is moving Jay Leno out of primetime; CBS reports it's close to signing David Letterman and Craig Ferguson to new contracts; and Fox is renewing Glee for a second season, which should come as a surprise to no one.
• Simon Cowell wasn't kidding when he said he was leaving American Idol? He'll depart the show after the current season to host The X Factor on Fox. [LAT]
• As many as 1,200 AOL employees could get pink-slipped this week. [NYT]
• Avatar continues to rake it in. The movie was No. 1 for a fourth straight weekend and has now grossed $1.34 billion around the world. [MTV]
• Erica Hill is saying goodbye to CNN and is joining CBS News. [NYDN]
• Tucker Carlson's politics site, The Daily Caller, launched today. [WaPo]
• Did NBC try to poach Barbara Walters last year? Seems so. [HP]