Keith Olbermann may have been pushed out of his gig anchoring MSNBC's election coverage, but the Countdown host actually made out pretty well, with the cable news network widely reported to be in the process of extending his contract. Far sadder is the case of Olbermann's fellow shouting head Chris Matthews, also ejected from the election team over his on-air feuds. Matthews' contract is up in 2009, two years sooner than Olbermann's, and yet no one is talking about buttering him up! That's probably because lantern-jawed Olbermann, by far the more overtly partisan of the two, has done more to gin up ratings. But apparently it's also because parent company GE's shareholders — that is, people primarily concerned with making money off a sprawling multinational corporation and with no expertise in running media operations — were unhappy with the network's convention coverage. Report the MSNBC haters at the Post:

It was a little over three years ago that the Onion lampooned the idea of a highbrow quarterly spinoff of Us Weekly. Now, thanks to the American cult of celebrity, this "joke" has finally come true! The celebrity gossip rag is expanding, via an unnamed new publication, into the slightly more highbrow topic of celebrity fashion, the Wall Street Journal reports this morning. Us owner Jann Wenner is chasing the success of People's StyleWatch, which now publishes 10 times per year and circulates more widely than Vogue. Given the "fashion" choices of many celebrities, that's insane. It's also a singular accomplishment: Time Inc.'s In Style and American Media's Star both launched failed fashion spinoffs. Maybe Wenner thinks he can do better. Or maybe he's just trying to jack up the price he'll fetch when the magazine overlord finally sells off (as long rumored) the Us portion of his empire. Notes the Journal:

As errors continue to mount at Bloomberg News, the question isn't just whose heads will roll, but from how high up on the org chart. The financial newswire avoided cratering Apple Inc stock with its premature Steve Jobs obituary last month because markets had been closed for half an hour by the time the false item was published. Bloomberg's incorrect report stating Sarah Palin had been arrested for drunk driving 22 years ago garnered little notice before it was corrected. But now Bloomberg has done some real damage. It incorrectly flashed a headline to terminals Monday stating United Airlines had filed for a second bankruptcy, sending shares to $3 from $12 and wiping out close to $1 billion in stock market valuation. After a halt in trading, the stock recovered to $11 by the end of the day. But the damage to both investors and to Bloomberg's reputation has been done. It hardly helps that the incorrect news bubbled up through a bizarre series of events:

How did we miss this? The New Republic gave a blog to Howard Wolfson! Wolfson is Hillary Clinton's reviled old flack. He's known for his terrible sweaters, terrible NPR-schmindie taste in white people music, and for being a big loser like everyone else who is blamed for the mismanaged Clinton campaign. TNR editor (and big pussy loser, JUST LIKE HOWARD WOLFSON) Franklin Foer says: "The Flack aims to pull back the curtain on the dark art of the political operative. As Howard dishes out his punditry, he'll try to explain how the likes of Axelrod and Schmidt might work through their calculations." Yes, he'll pull back the curtain and then spew patent nonsense about what we can all plainly see behind this curtain. Then he will cry and listen to The Mountain Goats. [The Flack/TNR]

The New York Times announced today that it's (finally?) starting a dedicated Media desk. The beat has been split between the Business and Culture sections, but now the paper is pulling a dozen reporters together and moving them to the third floor—the floor between the other two sections, and where the top Times editors now sit. Symbolic! It's all about "convergence," they say. But why now? And, look who's not going to be assigned to the Media desk: The Times' most visible media writer and newly minted authorial rock star, David Carr! We've emailed NYT Culture editor Sam Sifton for an explanation. Regardless, this has to be interpreted as a move that assigns more importance to the media beat. The Times currently gives over the bulk of its Monday business page to media stories, and there's no indication that that will change. The selection of that page's editor, Bruce Headlam, to head the new desk is a major promotion for him. A united media beat, though, will presumably be better able to coordinate its coverage so that it's competing every day of the week—which will become ever more important as the Wall Street Journal continues its own transition into a general-interest, business-friendly paper. The WSJ's media coverage is heavy on marketing, but it is naturally the Times' biggest competitor for the most important media stories. The full memo from the Times:

"Prior to the reelection of General Grant in 1872, there was a superstition prevalent that no man possessed of a middle name could be elected President a second time. The notion was based upon the fact that every President so endowed, up to that time, had, for one reason or another, failed to be reelected: John Quincy Adams, Martin Van Buren-if his was a triple name,-William Henry Harrison, and James Knox Polk. Even since Grant, who may be said to have been exempt from all rules, the tradition has held good. Rutherford Birchard Hayes, James Abram Garfield, and Chester Allan Arthur, were not reelected; William McKinley and Theodore Roosevelt were; also Grover Cleveland, after the lapse of an intermediate term,-who, it may be suggested, escaped the hoodoo by dropping his first name, Stephen, which his parents incautiously gave him." [The Atlantic via Andrew Sullivan]

Lee Abrams looks like Dunkin Donuts' Fred the Baker without his hair dye. But Fred the Baker got up every day to make donuts, and that's the type of old-style thinking that Lee Abrams is here to destroy! Abrams is the "Chief Innovation Officer" (LOL) of the dying Tribune Company, and also the man who says the most mystifying (and sometimes infuriating) things you will ever hear about the newspaper industry. All the time. Seriously. ""I just try to inpsire people to rethink things," Abrams declared yesterday. "There's no reason we can't create a newspaper renaissance." Ha. Here are ten of Lee Abrams' stupidest "NOT IRRELIVENT" inspirational messages:

Dave Zinczenko is the self-proclaimed "Barak [sic] Obama of publishing"! That, we hear, was just part of the inspirational email that Men's Health editor and former Julia Allison boyfriend Dave "Abs" Zinczenko sent out to his entire staff recently! He alone can save the magazine, was reportedly the gist of the message. Also, the Zinc is apparently searching for a top-notch publicist to get him back on the Today show—he used to appear regularly, but then his friend, a Today show producer, got fired! First he lost his title as Designated Magazine Industry Hottie, and now this. Perhaps Dave should be a bit more generous passing out the dinners with Men's Health models. Is Zinczenko really this much of a narcissist? He looks like such a nice young man. If you got the last email, or have other recent info to share about the abbed one, email us. [UPDATE: Dave Z tells us that Men's Health is looking for a new PR director, but that he is "Absolutely not looking for personal PR. (And never have)"]

CBS bought CNET, the tech-focused online conglomerate, for $1.8 billion earlier this year. Which prompted the general reaction "Really, that much?" And also, "Isn't this two fundamentally boring brands combining to form a larger, still boring brand?" Well one brave man says no, it's much more promising than that: CBS CEO Les Moonves, who engineered the deal! But is he right? It's hard to see why he would be: Moonves is counting on CNET to raise CBS' revenue by two points within three years, which would mean that its online growth would have to offset the "flattening out" of CBS' own TV and radio ad revenue. But CNET is basically a tech news brand, and a pretty unexciting one. CBS is a general interest brand, and an unexciting one. So why try to make CNET another unexciting, general-interest brand?

The Food Network is starting a magazine with Hearst. It will be poetically named Food Network Magazine, and it will feature Food Network people and Food Network food. Appropriately, NBC's weight loss spectacle The Biggest Loser is also cranking out new books and promotions for Rodale magazines Prevention and Men's Health. And Starbucks has decided to start distributing an in-store version of money-losing do-gooder magazine Good. Reading in America: It doesn't happen unless food is involved. [Super Squats says drink your milk.]

Hey, what did occasionally-genius rocker Courtney Love have to say about last night's Video Music Awards? Um: "i didnt go to the "VMAS" as we used to call them but theyve gotten so fucking Urban i dont know i guess Van Toffler thought ( hes an exec at MTV ) he was being edgy and he WAS by letting my darkling prince Brand host the mtv awards- but theyre not the "VMAS" and they never will be again - i had ZERO desire to watch let alone go and thats one of my very favourite people ive ever known or had the honour of being friends and fiends with hosting it so i feel horribly rude that my desire not to watch assholes with chastity rings- oh for fucks sake ive had some great conversations but not ONE has ever ended in an Orgasm." That was all one sentence, folks. [via her MySpace blog]

Dying of anticipation wondering what Esquire's unwieldy new flashing E-ink magazine cover of the future will look like? Anticipate no more! Here's a video of its hypnotic, nonsensical flashing slogan: "The 21st Century Begins Now." Calendar not included.

My only experience on a college newspaper was a mandatory one-semester period, the highlight of which was the adviser rejecting most of my stories for not being "serious" enough, and telling me menacingly, "People who work with me tend to do better professionally." (Confidential to that lady: Suck on the splendor of my cramped studio apartment, yea!). Some people parlay the editorship of their school papers into a nice journalism job—for example, every last employee of the New York Times was once editor-in-chief of the Harvard Crimson. Which is fine! Although it does increase your risk of being kind of a twit. Now college papers, like real papers, are having serious financial troubles. How to save them? Don't save them! The University of California- Berkeley and Syracuse University both had to cut their print papers back to four days a week recently, since they were losing money. Howard University had to stop printing its daily paper completely for several months earlier this year, until it was bailed out to the tune of $48,000. Of course, all these papers continued to publish online. The editor of the Syracuse paper said that "online readership was as high as it usually is" even when print publishing got cut. So tell us again: Why the fuck is it necessary for a college paper to publish a print edition at all? They're serving an audience where every last person has access to the internet. If a print edition isn't profitable, cut it. It's that simple. College papers are there for training purposes, primarily. There's no reason at all a college paper can't sell ads online, put all its content online, and be just as widely read as it was before. Print editions of college papers are either fully subsidized by advertising (which is getting harder, obviously), or they have some kind of endowment, or the university kicks in money to help them pay their expenses. Why not take that money and hire some laid-off journalists to teach these kids journalism? This way another former journalist would find a job, and janitors would have fewer things to pick up after entitled college kids, thereby cooling the simmering class war on campuses, leading to fewer administration buildings takeovers by young leftists channeling their rage into fair wage campaigns for university employees. College papers almost all suck, anyhow. [Inside Higher Ed]

So MSNBC going back to more "traditional" election coverage? Looks like that David Gregory ascendancy everyone predicted back before the Rachel Maddow ascendancy is finally happening! All because Tom Brokaw and Brian Williams are embarrassed by those loud shouty people and Jeff Zucker's in serious trouble with the rest of the Illuminati. Well it's a stupid, stupid idea, for many reasons. Reasons which we'll explain below.

It can be hard to sift truth from myth from conspiracy theory when it comes to Sarah Palin, even if that's what you're paid to do. But one would hope a professional journalist's natural skepticism would be piqued by the now-notorious Photoshop job at left of Republican vice presidential candidate Sarah Palin holding a rifle next to a swimming pool while wearing a bikini. Too good to be true! But Lola Ogunnaike, entertainment reporter for CNN's American Morning, seems to believe the image is authentic. Yesterday she told Reliable Sources host Howard Kurtz that Palin should maybe avoid posing with guns like this, because it might come back to bite her in the ass:

The total number of magazine ad pages fell more than 7% in the first half of this year. So the magazine industry says to itself, "You know what we need to sell more magazine ads? An ad campaign." Makes sense, right? And so does the message of this new campaign: "Magazine ads: they make people want to buy things." They're not beating around the bush here, people. Naturally, a big part of this new campaign is online. Hypocrisy in action? Not really!: The new ad campaign (including the pictured spot, which shows, apparently, my apartment), is nothing but images of people who bought a lot of shit after they read about it in an imaginary mag. But all the spots are designed to drive traffic to a website where there are a lot more stats on magazine advertising's effectiveness. Is this ironic, considering online ads are one major reason for the decline in magazine ads? Actually no, since part of the appeal of magazine ads is their ability to drive traffic to websites. It's right there, on the website! Also, magazines are far less threatened by the migration of advertisers to websites than newspapers are, because magazine ads are more appealing as a physical thing. Newspapers are the canaries in the ad coal mine. So magazines have nothing to worry about until newspaper advertising starts drying up, which... oh, right. The Times explains this mysterious business like so:

Wait, is it really the New York Times that assigned at least four reporters to essentially investigate those conspiracy theories about how Sarah Palin didn't really give birth to her son Trig? Because while internet rumors are never mentioned in the Times's lengthy Palin baby story this morning, it's hard to imagine any other reason the newspaper went to such great lengths to write about Palin's fifth and most recent child, despite a lack of cooperation from the Republican vice presidential candidate. The Times has not always been so eager to delve into the private lives of politicians, as John Edwards well knows! The bottom-line on Palin, for those who study intricate flow charts about why she took such a lengthy trip home when childbirth seemed imminent, or wonder why there are precious few photos of her pregnant:

It was unthinkable that MSNBC could come out of the Democratic and Republican National Conventions without a major, public shakeup of its political news team. The incessant fighting between the cable network's most opinionated anchors — Keith Olbermann, Joe Scarborough and Chris Matthews — marred the chance to retain all those new young viewers Olbermann has attracted over the past year or two. But now that the other shoe has dropped, with the anchor team of Olbermann and Matthews being replaced by comparatively neutral White House correspondent David Gregory, it would be a mistake to think MSNBC has undergone some sort of deep existential crisis that will pull it back from the brink of becoming the Fox News Channel of the left. The network's ratings growth, driven by Olbermann, has been too good and too long coming, and the lefty anchor (according to the Times) is about to re-up his plush contract, which in any case has three of four yeas left on it. And MSNBC will have done plenty if it simply gets its big-name blowhards acting at a high school level of maturity rather than yelling at one another like a bunch of kindergartners. Network executives appear to appreciate this! From the Times:

Last night's New York movies and TV post seemed to make people happy, so it would be kind of unfair to ignore our main competition as a location for silver and little screen productions. Besides, it's a wise blogger who holds onto a promising theme until it's bled dry. So! La-la Land, Hollywood, City of Angels... the choices are practically endless. Heck, that's where they make all the movies and TV shows! What's your favorite? I'll get us going after the jump.

The 24 hour news cycle affects everyone differently, and horribly. A television reporter in Hong Kong has resigned after he was caught committing self-love on the top tier of a double decker bus. Former Asia Television journo Chiu Yu Kit admitted to the act in court, but explained that he was merely trying to "ease his stress" when an off-duty cop caught sight of him standing up on a seat facing the window and taking in the local color while taking care of himself.