Today on the media- bistro.com Morning Media Menu podcast, hosts Jason Boog of GalleyCat and AgencySpy's Matt Van Hoven discussed the day's biggest media headlines, including news that Politico is launching a local news Web site to compete with The Washington Post. Can this new venture bring down the venerable D.C.-based paper, even as it struggles to cover local news?

Jason and Matt agreed that new business models are desperately needed, and Politico, a successful political Web site, may be on to something by focusing on a new niche. "I think it could work, especially with the metro reporting. It's definitely hemorrhaging at newspapers today," Jason said.

Another big headline on this rainy Wednesday involved Sarah Palin. After filing her last financial reports with the state of Alaska, we have learned that she has already earned $1.25 million in an advance on her book, Going Rogue. "This is not chump change, this book," Jason said.

And here's some other interesting Palin news: there are two parody books -- both called Going Rouge -- coming out the same day as Palin's book: a coloring book for kids and a collection of essays critical of Palin by The Nation.

Also discussed on the podcast: New York Times publisher Arthur Sulzberger Jr. comparing print media to the Titanic. Fun!

You can listen to all the past podcasts at BlogTalkRadio.com/mediabistro and call in at 646-929-0321.