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CBS to Offer Breaking News Service for Cell Phones (NYT)
The network will announce the first subscription services that send news and entertainment alerts that include video clips to mobile phones. They are part of a broad new strategy to sell wireless media products directly to consumers. A CBS News to Go service will be sold for 99 cents a month. NYT: News Corporation has created a mobile entertainment store called Mobizzo and a production studio to focus exclusively on developing cellphone entertainment in much the same way that 20th Century Fox creates movies and television.

Most Americans Get News From Broadcasters (UPI)
A Harris poll found that 77 percent of U.S. adults watch local broadcast news, while 71 percent watch network news, compared to 18 percent who read a national newspaper.

SEC Subpoenas Journalists, Then Backs Off (LAT)
Avoiding a potential First Amendment tiff, securities regulators backed away Friday from their demand that a financial journalist produce emails and other confidential materials connected to his reporting, a spokeswoman for Dow Jones & Co. said.

Raids in Search for Jill Carroll Come Up Empty (E&P)
Iraqi police are stepping up the search for the kidnapped U.S. journalist but report no new developments as the deadline set by her captors for the U.S. to meet their demands arrives.

American Idol Juggernaut Steamrolls Competition (Variety)
Only the Super Bowl, and to a lesser extent the Oscars, consistently beat Idol. This year's Super Bowl averaged 90.1 million viewers. Last year's Academy Awards chalked up 42.1 million viewers overall. And this year's Idol is nipping at Oscar's toes, averaging 32.8 million viewers.

CBS News Not Shying Away From Investigative Reporting (USAT)
After a series of high-profile journalism scandals, at a time when many Americans doubt the media's accuracy, a safe route for news outlets might be to focus more on soft news and features and less on investigative reporting. But CBS News chief Sean McManus believes that approach would be foolish.

Absolutely Finished (WWD)
Employees of the luxury magazine know the generosity of the very rich is sometimes subject to caprice. They learned it all over again on Friday, when the magazine's principal investor, Domingo Cuadra, informed the staff he was pulling the plug on the American edition of Absolute.

Advertisers Worried About Unusual Oscars Show (NYT)
Stuart Elliott: This year's crop of nominations has some advertisers worried about the Oscar-night audience. The naysayers doubt the mainstream appeal of elements of the show that will diverge from traditional Hollywood fare. Reuters: ABC averages $1.7 million for Oscar ads.

The Smoking Gun Heats Up (Time)
The site's journalists toil in a hopelessly retro newsroom environment, trying to dig up dirt and unearth damning documents in the name of truth. But ask the suits running the business side of TSG what the James Frey scoop means and you get a different answer — one with dollar signs attached. Newsweek: Taking a polygraph test: "I thought my memoirs were true. ..."

Once-Staid Canadian Paper Showing Signs of Life (WSJ)
Toronto's Globe and Mail has been conducting bold page-one "experiments" to keep ahead of the pack, moving toward oversize headlines, jumbo art and a generally offbeat approach to presenting the news. The result? The paper is selling more papers and winning advertisers.

News of Blogs' Demise Greatly Exaggerated (WSJ)
Jason Fry: Recent weeks have seen the rise of a cottage industry in Whither Blogging? articles. These reports of the blog bubble popping are bosh, but if we're lucky, something else really is going away: the by-turns overheated and uninformed obsession with blogging.

Ted Turner to Exit TW Board (Reuters)
CNN founder and media icon Ted Turner is ready to say his farewells to the entertainment industry and close a chapter in Time Warner's history. He will leave the company's board in May rather than stand for re-election at its annual shareholder meeting in Atlanta that month.

—David S. Hirschman