Floundering Conde Nast has hired McKinsey & Co. to help them "rethink" the way they do business, which usually involves layoffs. Not to worry, Conde Nasties! Our worldly readers will help you survive this trying time.

Media law is boring. Not in South Korea! The National Assembly passed a long-awaited reform bill to privatize the media over there today, but only after brawling, screaming, and storming the podium. Pay attention, Republicans:

There are corrections and then there are Corrections, and error-prone New York Times mistaker Alessandra Stanley got corrected today. For the second time. For the same Walter Cronkite story. Cronkite was good, but he didn't "storm the beaches" on D-Day.

Oh, how the American media wishes that some sex perv had never secretly recorded a nude video of shapely ESPN reporter Erin Andrews! Then the media would not have been forced to discuss this disgusting spectacle. And make photo galleries!

Dan Rather was awarded access to thousands of documents in his lawsuit against CBS. [Times]

Back in May David Simon, creator of The Wire, asked lawmakers to relax the nation's anti-trust laws so newspaper owners could get away with collusion. Now he's telling the New York Times and Washington Post to flout the laws completely.

The Economist Group, which owns Roll Call, just bought Congressional Quarterly. CQ was formerly owned by the nonprofit Poynter Institute. The Economist Group is controlled by a trust including one Rothschild. Pearson PLC (owners of the Financial Times Group), owns a 50% non-voting stake.

The New York Times is home to many of America's most annoying columnists: Mustachioed metaphor-mixer Tom Friedman; nature-gazing space-waster Verlyn Klinkenborg; unnecessary pop-politico nickname-giver Maureen Dowd. The paper's best columnist—against all odds!—is in the Metro section.

In your drenched Tuesday media column: Rupert Murdoch's son is directly implicated in the News Corp. UK phone-hacking scandal, the WSJ tells you how to get rich on NYT Co. bonds, The Wanted is unwanted, and more.

Just after announcing it would bring in McKinsey & Co. for some horrific cost-cutting, Conde Nast has released its official projections for its crucial September ad sales. We knew the numbers would be bad; they lived up to expectations.

• Janice Min isn't renewing her contract as editor-in-chief of Jann Wenner's Us Weekly. Her No. 2, Michael Steele, will become acting editor in chief. [NYT]
• Condé Nast announced yesterday that it had retained the management consulting firm McKinsey to "develop new perspectives." They sure have their work cut out for them. Condé revealed today that its monthly mags witnessed a 37 percent drop in advertising in September. [Gawker, AdAge, NYO]
• More pain at Condé may be on the way: "Significant cost cuts, including more layoffs and the closing of more magazines" are coming, says Keith Kelly. [NYP]
• Yet more Condé news: The company is closing down Men.Style.com so it can focus on the soon-to-be relaunched websites of GQ and Details. [AdAge]
• The Boston Globe's largest union voted yesterday to approve the new contract that had been proposed by the New York Times Co. [NYT, E&P]
• This can't be a good sign about the state of affairs at CNN: Time Warner Cable is moving it from channel 10 to 78 and replacing it with FX. [MCN]

As we plod through The Summer People Stopped Watching Network TV, said networks are making a fuss about Barack Obama's insistence on holding press conferences because it temporarily prevents them from profiting from their endlessly looped last-gasp humiliation-based reality shows.

A reporter for Star Magazine is maybe dating fertile divorced daddy reality star and man-about-town Jon Gosselin! This reporter is named "Kate," just like his ex-wife. We cannot think of a more appropriate couple.

The New York Post is shocked and outraged—not to mention disgusted—that some sicko perv secretly took a nude video of hot, sexy blond ESPN anchor Erin Andrews and posted it online. The Post is flabbergasted. And dismayed.

After weeks of wrangling that nearly resulted in the shutdown of the Boston Globe, members of the Boston Newspaper Guild approved a new labor agreement with the New York Times Company by a 366-to-179 vote. [New York Times]

Today we learned that Us Weekly editor Janice Min was considering leaving her post at the magazine when her current contract expires in two weeks. Tonight she issued a statement announcing her plans to move on.

Bill O'Reilly is so torn up over the death of Walter Cronkite. According to Bill, Cronkite was a liberal, but he didn't let his political views influence his reporting, unlike everyone around today, everyone except Fox News of course.

So Conde Nast has hired McKinsey, the smartest people in the world, to "develop new perspectives" for them. What does it usually mean when McKinsey's asked to do that? Layoffs!

In your muggy Monday media column: New bosses at Interview Magazine, CBS keeps Walter Cronkite around, the Ahwatukee Foothills News' reputation is tarnished by a faux chef, and Cody Willard sits at a bar.

Forty years ago today, some guys landed on the moon and walked around, and there were thousands of money-making newspapers on hand to chronicle it. They used words like "spacemen" and drew nifty mod-looking illustrations. Here's a front-page gallery.