• Bravo is producing a reality series about New York City private school kids. Not surprisingly, it's being dubbed as "the real-life Gossip Girl." [B&C]
• Walter Anderson is stepping down as chairman and CEO of Parade. Richard Beckman has been mentioned as a possible replacement. [NYP]
• The recession has led more TV stations to accept liquor and sex ads. [LAT]
• Fox is testing out shorter commercial breaks. [NYT]
• Sirius XM is closer to a deal with satellite mogul Charles Ergen. [WSJ]
• Google is quitting the radio business. [AdWeek]
• Condé Nast has pulled the plug on a Japanese version of Glamour. [WWD]

• Viacom reported a 69 percent drop in its fourth-quarter profit today. [NYT]
• Vibe is cutting back to 10 issues a year and merging its print and digital operations. It's also slashing pay and adopting a four-day workweek. [AdAge]
• Sirius XM is looking to sell the company to Liberty Media in order to fend off a takeover by satellite entrepreneur Charles Ergen. [WSJ, NYT]
• Paul Allen's Charter Communications may file Chapter 11 by April. [THR]
• Scene from Domino's death party last night. [Gawker]
• Quentin Tarantino's Inglorious Basterds will hit theaters this August. [RB]