• Rumor has it Condé Nast isn't going to shutter several of its money-losing magazines like Details and Teen Vogue, after all. But the budget review that's taken place in recent weeks seems to have "scared fiscal responsibility into some of the highest-rolling titles at the glitzy empire." This means Graydon Carter won't be making it to London or Milan Fashion Week, sadly. [NYP]
• Irving Kristol, the godfather of neo-conservatism, is dead at 89. [AP]
• Oprah has picked the next big best-seller. The latest pick for her book club is a set of short stories by Uwem Akpa called Say You're One of Them. [NYDN]
• After a 72-year run, Guiding Light's final episode aired today. [Reuters]
• CNBC has canceled Dennis Kneale's 8pm show on the network. [NYO]
• The Emmy Awards take place this Sunday. Who's going to win? If you watched last year's telecast, you may already have the answers. [WP]

Long-running soap Guiding Light airs its final episode next month, which means fictional lesbian couple Olivia and Natalia will be no more. The actresses behind the sapphic duo, however, are (ingeniously) using the web to keep their love alive. Hoorah!

• All those layoffs at Forbes yesterday? They continue today, sadly. [NYP]
• Times executive editor Bill Keller has a few words for Marc Bowden, who wrote the Vanity Fair piece about Arthur Sulzberger Jr. Also? He thinks VF should really beef up its factchecking department. [Romenesko]
• The biggest media company in America? That would be Disney. [BN]
• Nine of the top 10 cable news programs belong to Fox News. [HP]
• The winners of the 2008 Peabody Awards were announced today. [AP]
• Wanda Sykes is getting her own talk show. [B&C]
• Video from Bill O'Reilly's chat with David Letterman last night. [MM]
• Guiding Light is done. The final episode airs Sept. 18. [THR]

• The Chicago Sun-Times filed for bankruptcy protection today. [BN, NYT]
• Nielson is planning to cut 1,600 jobs, or 5% of its workforce. [AdAge]
• NBC is keeping the lights on at Friday Night Lights, after all. [NYT]
• Because it has precious other good news to report as it sits in fourth place, NBC says it saved $2 million last year by "going green." Congrats. [AP]
• MTV has ordered up four more seasons of The Real World. [THR]
• Sad news, soap fans: CBS is thinking about pulling the plug on Guiding Light, the longest-running daytime drama on television. [NYM]
• The MPAA reports global box office revenues were up 5.2% in 2008. [THR]
• Disney's TV unit has inked a distribution deal with YouTube. [NYT]
• How bad is the situation at CNN? "It's gotten so bad that Fox's Bill O'Reilly has actually taken to saying kind things about CNN, possibly out of pity." [MM]