• Bad news for NBC Universal: second-quarter profits dropped by 41%. [MW]
• Good news for NBC News: Susan Boyle's first in-depth TV interview will take place with Meredith Vieira on the Today show next Wednesday. [NYT]
• Alpha Media, the company that owns Maxim (and used to own Blender and Stuff)—and which was sold to Steve Rattner's Quadrangle Group in 2007—has changed hands again: Steve Feinberg's Cerberus now runs the show. [NYP]
• Rumor has it Pamela Fiori may be leaving Town & Country. [P6]
• Bonnie Fuller is taking over Hollywood Life, the website controlled by Jay Penske, who owns Movieline and recently bought out Nikki Finke. [NYT]
• More Finke: Days after the LA Times ran an article on Hollywood's most powerful blogger comes pretty much the same piece in the NY Times. [NYT]
• All that bad press for CNBC a few months ago must have refocused the network on the things that matter, right? Nope. [Gawker, Zero Hedge]

WEB 2.0 SUMMIT — Current.com CEO Joel Hyatt — yes, the guy from the lawyer ads — is rambling about "the magical elements of the Internet." He's bragging on, of course, his website-cum-cable channel's supposedly fantastic library of loser-generated content, and the me-too social-network features on its relaunched site. And then Hyatt lays this zinger on the audience: "YouTube isn't a business." Joost CEO Mike Volpi, also on stage, immediately disagrees, pointing to YouTube's "$20 CPMs" — the high rates the Google-owned site is able to charge for video advertising. Hyatt has no response to that. One wonders what rates his video site is able to charge. And what Current.com partner Al Gore, a senior advisor to Google, thinks of his YouTube jab.