Page Six Magazine, the glossy spinoff of the gossip column stuffed in your New York Post every weekend, is cutting back to just four issues a year. Because of money, yes.

Celebrity-friendly photo-heavy gossip rag OK! just can't find any stability in this cold world! Its latest editor has been fired, just months after taking over. (Updated below)

In your overstuffed Thursday media column: Obama cartoons have big lips, rumored (update: confirmed) layoffs at Incisive Media, John Dickerson's dramatic novel, and more!

New York's cover story this week takes a look at Caroline Kennedy's disastrous foray into politics, and provides some excellent insight into what derailed her quasi-campaign for governor. What may be more striking, though, is the cover of the magazine, which features a black and white photo of Caroline with a red tear that appears to have been hastily drawn on top of the picture. Seem a bit familiar? Indeed it does!

Fashion Week Daily reports OK! editor in chief Susan Toepfer was dismissed today, just a few months after taking over for Sara Ivens at the second-rate tabloid weekly. A number of OK! staffers have been cut as well, although additional layoffs are expected in the coming days. [The Daily]

Congressional Quarterly is profitable. The company that owns it also owns the St. Petersburg Times, which is less (or un-)profitable. So the company is selling CQ to shore up the declining paper. Is that bad?

Who says the magazine industry is doomed? The debut issue of Capital Style is coming out on February 23rd, and it promises to cover everything from "fashion" to "local boutiques" to "new trends" to "hot new restaurants." Okay, so it's only covering those subjects in Central Ohio. Whatever. We're totally taking this as positive news anyway. [Capital Style]

Melissa Lum, accessories editor of shopping rag Lucky "quit shopping." She encourages you to continue to do so, however. [Beautiful Stranger]

So much media news already this Wednesday, but there's more(!): WaPo Book World's gone, Super Bowl parties are canceled, and Reader's Digest's brutal recession memo:

The raft of rumors we received this morning have been confirmed: Conde Nast is folding Domino magazine. It won't be the last to go.

• Fourth-quarter profits at the New York Times Co. were down nearly 50 percent compared to a year ago; the company also announced that it has retained Goldman Sachs to sell its 17 percent stake in the Red Sox. [NYT]
• More on Condé Nast's decision to close Domino. [NYT]
• Because there isn't enough choice with the 364 different iterations of HBO you already have, another premium cable channel is headed your way. [WSJ]
• How al-Arabiya got the first post-inauguration interview with Obama. [Time]
• Hurry up! There are only two spots left for the Super Bowl on Sunday. You can make the $2.4 million check payable to NBC. [THR]

Congratulations to Self magazine, for Conde Nast CEO Charles Townsend naming its publisher the company's Publisher of the Year! But when you look at the numbers, you see just how sad this award really is:

WWD reports that Condé Nast has decided to shut down the shelter title Domino. The staff was informed of the news this morning. [WWD]

The ongoing collapse of the American economy means middle-class college grads must behave like coddled aristocratic twits and secure internships through their parents' largesse.

When he interviewed celebrities, typically over lunch, longtime Parade columnist James Brady often did not take notes; he only needed three soundbites, which he memorized.

Tuesday is a great day for a media column: The NYT's Stuart Elliott will not be stonewalled, hipster lady mag Missbehave stops printing, and Yahoo should either fund quality journalism or Gawker's next party.

• Reed Business has cut staff across its numerous publications. [NYT, THR, FB]
• Carlos Slim Helu's loan to The New York Times Co. is "an ominous move" by a "capitalist with loyalties to a foreign state," says the Seattle Times. [E&P]
• Pastor Rick Warren is launching a magazine. [WSJ]
• More on Conde Nast's new web strategy. [NYP]
• Meet the Huffington Post's new cast of celebrity bloggers. [Jossip]
• The Senate has voted to delay the transition to digital TV until June 12. [BN]

In your sobering Monday media column: Publishers Weekly editor laid off, scrounging for dollars and cougars, former New York Times Hollywood reporter Sharon Waxman's web site cometh, and more!

• Martha Stewart has sold a third of her shares in her eponymous media company. But she's still as anal as ever around the office. [NYP, Gawker]
• Bill Kristol's New York Times column has come to an end. [NYT]
• Fashion and beauty magazines will see a 22 percent decline in advertising pages during the first three months of the year. [WWD]
• Doubledown Media, the publisher of Trader, is reportedly up for sale. [NYP]
• Conde Nast is reorganizing its web division. [MW]
• Moody's has downgraded New York Times Co. debt to junk status. [NYP]
• A long Q&A between Lesley Stahl and Rachel Maddow. [Wow]
• Sundance ended yesterday without a big sale. [NYT]
• Once again, Paul Blart: Mall Cop was No. 1 at the box office. [THR]

CEO Ann Moore: "You do layoffs, and I don't think you're ever done." Also, "magazine" is kind of a dirty word around the executive office: