Cityfile: New York's Most Notable and Influential

• Is Oprah preparing to leave her syndicated show behind and take her act to OWN, her long-delayed cable network? That's the rumor anyway. [DH]
• The new editor of the Observer is Kyle Pope, formerly of Portfolio. [NYO]
• Cable meets kindergarten: Fox News will stop being mean to MSNBC only if MSNBC first stops being mean to Fox News, reports Rupert Murdoch. [NYT]
• Fortune and Time are expected to be hardest hit by layoffs at Time Inc. [NYP]
• Scripps has beat out News Corp. for control of the Travel Channel. [BN]
• Susan Plagemann has been named the new publisher of Vogue. Meanwhile, Tom Florio will now oversee Vogue, Bon Appétit and Traveler. [WWD]
• Bloomberg BusinessWeek (or BBW for short) has its new team in place. [NYT]More

• The New York Times Co. reported a $35.6 million loss for the third quarter as ad revenue plunged 30 percent. But it was better than what Wall Street analysts were predicting, so the stock shot up 22 percent today. [NYT]
• New York magazine's chief says there are no plans to sell the magazine following last week's death of owner Bruce Wasserstein. [AdAge]
• Newsday plans to charge $5 a week to access to its website. [NYT, [E&P]
• Fortune is cutting back on the number of issues it publishes. And Time Inc., Fortune's publisher, is planning another round of job cuts. [WSJ]
• On the same day Sarah Palin's memoir is published, the Nation will release Going Rouge, an identical-looking book that mocks the ex-governor. [Politico]
• As if losing billions of family money wasn't enough of a punishment, France says it plans to put Warner Music chief Edgar Bronfman Jr. on trial for insider trading in connection with the 2000 merger of Vivendi and Seagram. [NYP] More

• The Harry Potter frenzy kicked off last night when the latest installment debuted at midnight last night and raked in $22.2 million in the process. [THR]
• Jared Kushner's struggling Observer is still hunting for a new editor. [DF]
• Time Inc. has "assembled a high-level SWAT team" to revamp Fortune. [NYP]
• The most successful magazine at the moment? Fitness. Obviously! [Folio]
• Ukraine's Culture Ministry has banned Brüno because "it's immoral." [THR]
• A hacker accessed the computers of several Twitter employees, made off with a big bunch of documents, and is now leaking the info online. Technology! [TC]
• Is NBC's wacky, new terrorist-hunting reality show going to put war correspondents in danger's way? Guess we'll find out shortly, right? [NYO] More

Martha, Master Yogi | When Fortune asked Martha Stewart to give a presentation at its "Most Powerful Women Summit" last weekend, the mag probably assumed she'd instruct the group on how to prepare the perfect rhubarb pie. Instead, Martha went all new-agey and decided what everyone really needed was to learn how to do a proper downward dog. (How fitting for these stressful economic times!) The only disappointment: While Martha did get to hang out Warren Buffet at the event, it does not appear she was able to convince him to step on to a yoga mat. [The Martha Blog]

• Keith Kelly of the Post reports that 14 of the 17 staffers at Fortune Small Business are getting the axe. [NYP]
• Nina Garcia doesn't officially start at Marie Claire until September, but she's already rumored to be in her new office conducting "run-throughs" for upcoming photo shoots. [WWD]
• HBO has given the greenlight to How to Make It In America, a new comedy by Mark Wahlberg and Stephen Levinson. [THR]
  
• McDonald's new advertising plan apparently includes throwing parties where Kim Kardashian shows up without a shirt. [AdFreak]