Click here to receive mediabistro.com's Daily Newsfeed via email.

Newsday Stock-Swap Sale Could Save Zell $245M (Newsday)
Sam Zell, currently $12.8 billion in debt with the Tribune Co., is reportedly structuring a possible sale of Newsday in a way that could save him hundreds of millions of dollars in capital gains taxes. The idea of a non-cash asset swap has been swirling about talks with suitors for Newsday, including News Corp. chief and New York Post owner Rupert Murdoch and New York Daily News owner Mort Zuckerman.

On Today Show Set, Katie Crazies Long to Hear Their Mistress' Voice (NYO)
Historically, in times of national concern over Katie Couric's next career move, NYTV has canvassed the patch of New York outside the Today studios, and actually the place still serves as a kind of Mecca for the most devoted of the Katie crazies. On Monday morning, the Observer returned.

Our New Obsession With Manly Reality TV (Slate)
Thom Beers is the producer behind Deadliest Catch, which begins its fourth season on Discovery Channel tonight. Catch, which follows the Alaskan king crab fishing fleet in the Bering Sea, is an obvious descendant of The Perfect Storm and, as entertainment, far outstrips the celluloid version of Sebastian Junger's book.

News Corp. Dumps Poison Pill, Moves to End Staggered Terms (AP via CNN/Money)
News Corp. said it will eliminate a controversial "poison pill" anti-takeover defense, and the company moved to dump a board structure that had directors serving staggered terms. News Corp., which acquired Dow Jones & Co. last year, said holders of Class B shares will vote at its annual meeting this year on its plans to have all directors stand for one-year terms.

More Newsfeed here...