• Portfolio isn't over and done with, after all: An affiliate of Condé Nast—based in Charlotte, weirdly—plans to revive the magazine's website. [NYO]
• Josh Marshall has accepted Maureen Dowd's apology for swiping some of his copy; and Dowd's new column today is Marshall-free, thankfully. [TPM, NYT]
• Upfronts 2009: What the CW and CBS have in store for the fall. [THR, THR]
• Is Jann Wenner looking to poach Condé Nast honcho David Carey? [NYM]
• Times executive editor Bill Keller says Google is the paper's "frenemy." [NYO]
• CNBC's Jeff Macke had a meltdown on the air yesterday. [Gawker]

Gawker's old pal Jimmy Kimmel had what the Times' Dave Itzkoff termed as a "'Jerry Maguire'-like moment" while delivering an address to potential advertisers at ABC's upfront presentation on Tuesday, and it was simply awesome.

• The New York Times is now thinking of charging consumers for access to its web site, although doing so would be "tricky," says Bill Keller. Indeed. [NYT]
• There are some signs of further trouble at Forbes. [NYP]
• Martha Stewart is going to see if she can charge for online videos. [WWD]
• Advertisers are looking to channel recession-related outrage. [NYT]
• NBC has renewed Last Call with Carson Daly. Unfortunately. [THR]
• Did David Geffen really consider taking a stake in the Times? [NYP]
• Jay Leno's last guest on The Tonight Show: Conan O'Brien. [NYDN]
• Suze Orman is having her "moment," in case you weren't aware. [NYT]
• Is the Jon & Kate drama good news or bad news for TLC? [TDB]
• Brian Williams is still a Jersey boy, or so it would seem. [The Awl]

Michelle Obama was the main attraction at Time magazine's sixth annual 100 "most influential" ceremony at Lincoln Center last night. She was joined by a predictably massive group of A-listers, including Oprah, Harvey Weinstein, Mort Zuckerman, Steve Schwarzman, Jeff Bewkes, Diane Sawyer, Barbara Walters, Whoopi Goldberg, Joy Behar, Carine Roitfeld, Gayle King, Stella McCartney, Claire Danes and Hugh Dancy, Kate Hudson, Liv Tyler, Jay Leno, Lorne Michaels, Jimmy Fallon and Nancy Juvonen, Charlie Rose, David Lauren and Lauren Bush, Ann Coulter, Suze Orman, Arianna Huffington, Kate Betts, Andy Serwer, Paul Krugman, Vivi Nevo and Ziyi Zhang, Andrea Mitchell, Chris Matthews ...

• New York Times union members approved a five percent pay cut last night, which takes effect today. Meanwhile, the NYT will resume negotiations with the Boston Globe's largest union at 5pm this afternoon. [NYP, E&P]
• The Onion is killing off its LA and San Francisco print editions. [Gawker, MP]
• How desperate has NBC become? Execs have announced that Jay Leno "is not afraid to experiment with live commercials and with sponsorships." [AdAge]
• Better news for NBC: It scored big with its coverage of the Derby. [NYP]
• Ad spending in the fourth quarter fell 9.2% from a year earlier. [WSJ]
• Writers gathered last night to say goodbye to the Times' City section. [NYO]

Oh, to write jokes for one of those late night TV shows! Seriously, please, let me do that. Those staff writers get paid. But the freelancers get totally screwed!

• It wouldn't be fashion's biggest night without a bit of drama thrown in to spice things up. Naomi Campbell, Linda Evangelista, and Christy Turlington are reportedly skipping the Costume Institute gala this evening, possibly because Kate Moss was chosen to co-chair the event; meanwhile, Karl Lagerfeld, Azzedine Alaia, and Domenico Dolce and Stefano Gabbana are all staying home, perhaps because Marc Jacobs has "commandeered the event" by buying two tables and dressing Moss, Madonna, and Kerry Washington. [P6]
• The Chelsea Clinton wedding rumors continue: The Boston Globe reports the former first daughter and Marc Mezvinsky may get hitched at Ted Danson and Mary Steenburgen's home on Martha's Vineyard in August, which is when the Obamas will be in town, too. [BG, NYDN]
• Kelly Killoren Bensimon says picking on her has become "the new recession vocation." Sounds about right. [R&M]

• The New York Times Co. has reached a "tentative agreement" with its union to impose a 5 percent pay cut on employees through the end of the year. [NYP]
• Disney's ABC is joining Fox and NBC and taking a stake in Hulu. [AdAge]
• As expected, Time Warner said it may spin off AOL. But it may end up selling it, too. Either way, Gerald Levin, Dick Parsons and Steve Case will still be responsible for the worst merger in American corporate history. [NYT]
• Viacom reported that first quarter profit dropped 34 percent amid falling revenue at both its film and TV networks businesses. [AP]
• Related: Viacom boss Sumner Redstone is as senile as ever. At the Milken conference in Beverly Hills, he said he wouldn't comment on his competitors before lashing out at Ted Turner, Rupert Murdoch, and Jay Leno. [THR]

• William Morris and Endeavor have agreed to merge the two agencies. The new company will be called William Morris Endeavor Entertainment, or WME, which should not be confused with WWE, or World Wrestling Entertainment, although the testosterone and aggression levels are comparable. [WSJ, NYT]
• Is the New York Times Co. putting the radio station WQXR up for sale? [P6]
• David Hunke, who had been publisher of the Detroit Free Press, is the new president and publisher of USA Today. [PaidContent]
• The New York Sun is back! Sort of. [NYSun via Gawker]
• More coverage/ analysis of Portfolio's closing, if you're up for it. [NYT, TDB]

Penelope Cruz turns 35 today. Jay Leno is turning 59. Jessica Alba is 28. Former Secretary of State Jim Baker turns 79. Famed chef Alice Waters is 65. Author Harper Lee is 83. Actress Bridget Moynahan turns 38. Ann-Marget is turning 68. Wooster Group director Elizabeth LeCompte is 65. Sonic Youth's Kim Gordon is turning 56. Famed defense attorney Ted Wells is turning 59. Golfer John Daly is 43. And the rapper Too Short turns 43 today.

Jay Leno's rep says it looks like dehydration sent the Tonight Show host to the hospital last week. But Leno prefers to process his trauma by mocking Conan O'Brien and Ben Silverman.

• Are Michelle Williams and Spike Jonze planning to head down the aisle this summer? That's what the Star claims, since the two have been together "almost a year" and supposedly "don't see why they should wait much longer." As good a reason as any! [Star]
• Sam Ronson changed her relationship status on Facebook to "It's complicated," and says she and LiLo have started talking again, which may mean they're getting back together. [Us]
• Mary-Kate Olsen "kept touching" actor Bradley Cooper at a Tribeca Film Festival party, which could be a sign that they might be dating. [NYDN]
• Parker Posey showed off her new man at the festival, too. She's dating a sculptor named Scott Lenhardt. [NYM]

The Tonight Show is a no-show tonight. Host Jay Leno has checked himself into the hospital, and NBC is airing a rerun instead of the planned lineup featuring actor Ryan Reynolds.

Jay Leno hospitalized, Tonight Show taping canceled. Leno said to be in "good spirits."

As if 5 million YouTube hits, worldwide press attention and unsolicited porn offers weren't enough to fully catapult Susan Boyle from obscurity to fame, Jay Leno is impersonating the Britain's Got Talent contestant.

• Hachette is cutting salaries and asking staff to work overtime. Fun! [Gawker]
• Amazon is blaming an "embarrassing and ham-fisted cataloging error" for the dropping the sales rankings of thousands of gay and lesbian books. [AFP]
• Bravo has picked up four new shows, including one produced by Sarah Jessica Parker and another by Demi Moore and Ashton Kutcher. [THR, THR]
• NBC's Boston affiliate, WHDH, has backed down from its threat to skip Jay Leno's new 10pm show when it debuts this fall. [B&C]
• Marriott will no longer automatically provide guests with a free copy of USA Today or the Journal. You're gonna have to ask for it from now on. [E&P]

Rihanna and Chris Brown are each swearing off tattoo parlors; Neal Boulton is swearing off booze and Jessica Simpson is swearing off everything John Mayer ever told her.

On second thought, WHDH decided it might not go out of business if it airs Jay Leno's show at 10 pm, so the station reversed a short-lived effort to reject Leno's whatever-the-hell-it's-going-to-be at 10 p.m.

• The publisher of the Los Angeles Times is defending his decision to put an ad disguised as a news story on the front page of the paper yesterday. [LAT]
• A Fox Entertainment employee has reportedly been arrested for stealing the personal information of other Fox employees. [TVN]
• NBC is developing a sitcom based on George Gurley's Observer column. [P6]
• Angelina Jolie, Victoria Beckham and Lauren Conrad were among the "most salable cover faces" for fashion magazines in 2008. The least? Nicole Kidman, Carrie Underwood, and Rachel Weisz. [WWD]
• Dylan Ratigan talks about his departure from CNBC and move to ABC. [BI]
• Speaking of covers, are struggling celebrity tabloids paying for them? [NYP]
• The Daily Beast, Tina Brown's website, will introduce ads shortly. [AdAge]
• Fox News chairman Roger Ailes and his wife, Elizabeth, have purchased another local newspaper in Putnam County. [Portfolio]
• NBC will air a "comedy showcase" featuring Jay Leno on May 19. [NYT]

NBC's affiliate in Boston said it won't carry Jay Leno's new 10 p.m. show, which the station claims might ruin the station's business by driving away viewers. Making the feud especially embarrassing?