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

• Glenn Beck is Time magazine's cover boy this week, sadly. [Time, HuffPo]
• Spike Lee and Robert De Niro are teaming up with Showtime "to develop a drama series about Manhattan's Alphabet City." [THR]
• Twitter is now worth $1 billion, believe it or not. [TechCrunch]
• Nikki Finke hears that Variety is planning to start charging for access to its website and The Hollywood Reporter is dropping its daily print edition. [DHD] 
• Jenna Bush made her debut on the Today show this morning. [BS]
• An update how Jay Leno's new show is faring three days in. [NYT]
• An update on the protracted legal battle between CBS and ex-anchor Dan Rather, a feud that only "seems to get pettier by the day." [TDB]
• Fox 5's Ernie Anastos managed to both embarrass himself and coin a delightful new catchphrase on the news last night. [Gawker, NYP, B&C]More

• Who's going to replace Diane Sawyer now that she's leaving GMA? No one knows, really, but expect the changes to the show to be significant. [NYT]
• Time is shutting down its fashion-centric spin-off, Time Style & Design. Editor Kate Betts will remain with Time; six other staffers have been let go. [WWD]
• Magazine publishers are bending over backwards and offering to design ads themselves in order to keep their advertisers from fleeing. [NYT]
• A frontrunner may have emerged to acquire the Boston Globe. [NYP]
• ABC and CBS have agreed to air President Obama's address to a joint session of Congress next Wednesday. Fox, however, probably will not. [THR]
• Hollywood writers just aren't earning the cash they used to, it seems. [NYT]
• Simon Fuller, the man who brought you American Idol, now has his sights set on fashion: He's one of the people behind a new site called Fashionair. [VF]
• One more reason to hope Jay Leno's new nightly show on NBC fails: If it succeeds, you can expect every other network to dump pricey one-hour dramas and replace them with crappy live events and even crappier reality TV. [Time]

• Both NBC and ABC plan to pre-empt regular programming this evening to air specials devoted to coverage of the Jackson story. E!, MTV, and CNN (among others) have specials airing over the next few days, too. [NYT, THR]
• Time is publishing a special Jackson "commemorative edition" on Monday. For its part, Rolling Stone has a "bookazine" in the works. [NYT, NYT]
• How newspapers around the world covered the Jackson news. [Guardian]
• And how the Jackson story kind of broke the Internet. [ABC News]More

• It's an ugly day at MySpace. The News Corp.-owned social network is slashing nearly 30 percent of its staff, or 400 people, due to a decline in sales. [BN, PC]
• Protesters in Iran have been using Twitter to keep up with developments on the ground. Now the State Department is stepping in and asking the company to put off a planned upgrade so service isn't disrupted. [Reuters]
• MTV entertainment president Brian Graden is departing the network. [NYP]
• It's official: NBC is dumping Live at Five and replacing it with an hour-long "daily information, lifestyle and entertainment show." [NYO]
• Interview dropped editorial director Glenn O'Brien last week. Now the magazine's parent company, Brant Publications, is suing him for allegedly breaking the terms of his confidentiality agreement. [WWD] More

Oh, how the mighty have fallen. Time magazine celebrated the release of its "100 most influential" list last night, a gathering that attracted plenty of rich finance-y types a year ago, back when saying you worked at a hedge fund or investment bank didn't have the reputational value of saying you spent your day repossessing cars or running a funeral home. The financial meltdown translated into a slightly different guest list and seating plan this time around, not surprisingly. Hedge fund billionaire Steve Cohen, who graciously stood on the red carpet last year and even permitted a photographer to take his picture (not that he smiled or anything), wasn't even invited. And while billionaire financier Steve Schwarzman did make the invite list—and turned out for the ceremony—he probably should have just stayed at home.

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Michelle Obama Is Bound For NYC | Michelle Obama will be in New York this evening to attend—and speak at—the glitzy party celebrating Time's list of the 100 most influential people. As the name implies, there are precisely 98 people in addition to president and first lady who made the cut. But leave it to some AP reporter to make it sound like earning a spot on the list is a really, really bad thing: "Among those who made the list: the First Lady, Michelle Obama; her husband, President Barack Obama; and Bernard Madoff, the disgraced New York money manager who has admitted to stealing tens of billions of dollars from investors." [AP]

• You can rest easier now: Now that he's no longer planning to run for Senate, Chris Matthews has signed a new four-year contract with MSNBC. [NYT]
• Howard Dean has signed on to be a CNBC contributor. [HP]
• Major media companies are now looking for a bailout. From Google. [AdAge]
• Jay Leno's chat with Obama was his fourth most-watched show ever. [LAT]
• Some perks may be curtailed at Condé Nast. Like the one that allowed Portfolio editor Joanne Lipman to fly to Davos first-class, possibly. [NYP]
• Advance Publications is instituting mandatory 10-day furloughs and a pension freeze at nearly all of its daily papers, says Steve Newhouse. [E&P]
• Time publisher Don Fries is headed out the door. [NYP]
• NBC is very good at spinning the Times, in case you haven't noticed. [CJR]
• Knowing starring Nic Cage was No. 1 at the box office this weekend. [NYDN]

• Have you heard? Our banks are insolvent. Happy Friday to you, too. [NYT]
• The markets are down this morning as the House and Senate prepare to vote on the $789 billion economic stimulus package. [CNN]
• It's still unclear whether Wall Street got the message that "that high living on the corporate tab is now unacceptable." That's comforting to hear. [Reuters]
• Leon Black's Apollo has tapped Henry Silverman as COO. [WSJ]
• AIG's financial products unit is now under investigation in Britain. [DB]
• Morgan Stanley has suspended its global head of real estate investing. [FT]
• Prosecutors have started interviewing employees of Bernie Madoff. [WSJ]
• Tim Geithner and Fed chairman Ben Bernanke are in Rome today and tomorrow to meet their G-7 counterparts to discuss the stimulus plan. [WSJ]
• Time's list of 25 people to blame for the economic crisis. [Time]

• HarperCollins announced layoffs and a major reorg today. [NYO, Gawker]
• No one wants to take the editor job at OK! [Page Six]
• Ron Burkle's magazine distribution company is suing a bunch of publishing companies for trying to drive it out of business. We should be so lucky. [NYP]
• Michael Kinsley explains why micropayments won't save newspapers. [NYT]
• Time's Walter Isaacson, however, argued the opposite position last night when he appeared on The Daily Show with Jon Stewart. [NYO, TDS]
• Hachette is dropping out of the Magazine Publishers of America. [AdAge]
• Live Nation and Ticketmaster have announced plans to merge. [NYT]
• CBS scored big ratings on Sunday thanks to the Grammys. [AdAge]
• A day in the life of Fox News anchor Shepard Smith. [Esquire]

• As expected, Barack Obama has been named Time's person of the year. [Time]
• Oprah has negotiated a deal to produce movies for HBO. [Reuters]
• It appears the end is near for Lenny Dykstra's Players Club magazine. [NYP]
• News Corp. is moving its listing from the NYSE to the NASDAQ. [NYT]
• American Idol was the most time-shifted show in primetime in 2008. [Reuters]
• Cutting web staff seems to be a popular way for magazines to keep their print titles afloat. [NYO]

♦  Michael Wolff's biography of Rupert Murdoch goes on sale tomorrow, as you probably know thanks to the torrent of coverage over the past couple of days. Among the juiciest bits: Murdoch despises Bill O'Reilly, his wife Wendi Deng occasionally reads his email, and he's fond of sleeping pills. [NYT, Gawker, Politico, NYO, Portfolio]
♦  The third quarter of 2008 was a punishing one for newspapers. Ad revenue plunged 18.11 percent, the steepest decline in four decades. [E&P]
♦  Tina Brown's pick for host of Meet the Press: Rachel Maddow. [TDB]
♦  Four Christmases was No. 1 at the box office over the weekend, racking up an estimated $31.7 million in ticket sales. [THR] More

♦  ABC appears to generated the highest ratings as the election results rolled in last night. NBC came in second and CNN ranked third. [TV Decoder]
♦  Time is rushing to produce a commemorative issue of the mag by the end of the week. [HuffPo]
♦  Both People and Us Weekly will feature Obama on the covers of the next issue.  [NYP]
♦  Can The Daily Show survive an Obama presidency? and how will other media outlets deal with the post-election dropoff? [Politico, AdAge]
♦  An explanation of that holography thingie on CNN last night. [YouTube]More

• Barack Obama will appear on the cover of Time for the seventh time this year. [Drudge]
• National Enquirer editor David Perel would prefer it if you didn't refer to his tabloid as "icky". [HuffPo]
• Rachel Maddow's agent may have shopped her to Fox News before concluding a deal with MSNBC. [Jossip]
• Many of the bloggers who didn't get passes into the DNC will be blogging from the Big Tent a few blocks away. [MediaShift]
• Lifetime is moving ahead with its plans for Blonde Charity Mafia, a series about three D.C. socialites. [Variety]
• Ratings are up for Fox News. [THR]
• The New York Times has turned "tabloid-y," according to Anthony Weiner. [NYO]