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Report: Microsoft Directors Meeting to Mull Higher Yahoo Bid (AP)
Microsoft Corp.'s directors were meeting Wednesday to consider raising the software maker's $41.9 billion bid for Yahoo Inc. instead of pursuing a hostile takeover attempt, according to a published report. A decision could emerge after the meeting, The Wall Street Journal reported, citing unnamed people familiar with the matter. LAT: Push coming to shove for Microsoft on Yahoo.

$650M Cablevision Bid for Newsday Coming Soon (Newsday)
Cablevision Systems Corp. appears to have joined the bidding for Newsday, offering $650 million for the newspaper, or $70 million more than two other suitors, according to knowledgeable sources. The cable giant made its interest in owning Newsday known to Sam Zell, chief executive of the paper's parent Tribune Co. NYT: The Observer Media Group, owned by Jared Kushner, is said to have dropped out of the bidding for Newsday.

Time 100 'Most Influential' List Includes Media Folk (Time)
The magazine's fifth annual list of the 100 most influential people in the world includes leaders, thinkers, heroes, artists, scientists, and more. Among these are more than a few of the media persuasion. Among those on the list are Oprah, ex-NBC chair Bob Wright, Facebook's Mark Zuckerberg, SNL's Lorne Michaels, and Meet the Press host Tim Russert.

Time Warner to Spin Off Time Warner Cable, Reports Mixed Q1 Earnings (B&C)
Media conglomerate Time Warner finally committed to spinning off its 84 percent-owned cable operation, Time Warner Cable. In announcing Time Warner's first-quarter earnings — which showed strong results from the cable unit and Time Warner's programming networks but continued declines at its AOL unit — CEO Jeff Bewkes said the separation of Time Warner Cable was imminent. NYT: For years, it was a widely held belief within Time Warner and the media business that there were real financial advantages to owning both the content — television shows and films — and the means of distributing it to people's homes. But Wednesday's cable announcement spotlighted the company's future as a pure content provider. NYP: AOL is a drag on Time Warner profits. Forbes: Hurry up and remake Time Warner, writes Louis Hau.

Civil War at Wall Street Journal (Gawker)
The Journal is still reeling after News Corp. execs pushed out Marcus Brauchli in order to install a more amenable managing editor at the paper. Murdoch's newspaper acquisition drive still makes as much sense as we thought a week ago. However, if News Corporation can't even win over the potential collaborators, the occupation of the Journal will be all the more bitter. The infighting is already pretty ugly. Slate: Abolish the powerless Wall Street Journal special committee, writes Jack Shafer.

Details Ed on Which Women's Mag He'd Edit: 'I'm Waiting for Cindi to F*ck It All Up at Glamour' (FishbowlNY)
In what felt to many like an Ellies week amuse-bouche, 118 senior-level men's and women's magazine editors converged upon Twenty Four Fifth Tuesday night for mediabistro.com's first-ever joint men's and women's magazine dinner, "Skirts, Slacks, and Supper." Spirited conversation quickly became the order of the evening, particularly in a post-meal panel. Folio:: Story ideas that were once almost exclusively seen in women's magazines are now common in men's titles, the panelists said. Portfolio/Mixed Media: Details' Dan Peres seemed to be hinting at something when he said, "The reality is that of the men's magazines, not just those represented here but across the board, Details is the one that... draws a lot of inspiration from women's magazines, and certainly our readership probably appreciates that."WWD: The men's magazine editors kept it lively with shots at absent competitors. Playboy's Chris Napolitano joked about Esquire putting George Clooney on the cover "every other month," and Maxim's Jim Kaminsky ribbed GQ for a Mitt Romney story that appeared after he had left the race.

The View, Ellen DeGeneres Among Daytime Emmy Nominees (AP)
The View, Rachael Ray, and The Ellen DeGeneres Show were among the Daytime Emmy Award nominees announced Wednesday. The programs will compete for best talk show, while the new category of best informative talk show pits nominees Dr. Phil, The Tyra Banks Show, and A Place of Our Own against each other.

Topless Miley Cyrus = Record Traffic For Vanity Fair Site (Silicon Alley Insider)
The hubub over Vanity Fair's not-exactly-naked Miley Cyrus photos generated record traffic for the Condé pub's Web site. The floodgates opened Monday, when the site also threw up a photo shoot video it had been planning on saving for later. By the end of the day, VF.com had racked up 1.8 million uniques (it normally gets between 20,000 and 40,000) and 17 million page views.

Village Voice Media Execs Sue Phoenix Sheriff Over Arrest (E&P)
Village Voice Media executive editor Michael Lacey and CEO Jim Larkin are suing Sheriff Joe Arpaio and other Maricopa County, Ariz., authorities over their arrest last October for publishing details of a grand jury subpoena issued to them for articles in the Phoenix New Times alternative weekly.

NBC Begins to Strike Integration Deals for Fall (AdAge)
The upfront market hasn't started officially, but that hasn't stopped NBC from forming plans with ad buyers and marketers. "A number of the agencies and advertisers have started to connect with us about specific business, and we've begun a number of discussions," Ben Silverman, co-chairman of NBC Entertainment and Universal Media Studios, said.

Nielsen Moves Sweep to March 2009 (Hollywood Reporter)
Nielsen Media Research said Wednesday that it will move the traditional February sweep period into March next year to minimize the disruption surrounding the digital TV transition. It's likely the first time the ratings giant has moved the timing of its four-times-a-year sweep periods. But it's also a measure of the industry's concern over the Feb. 17 conversion to all digital signals.

Brian Williams: Is 'Off the Record' Dead? (Folio:)
Brian Williams, the anchor, managing editor, and resident blogger of NBC's Nightly News broadcast, moderated a panel on political magazine coverage at the annual ASME members' luncheon Wednesday. And, as anyone who's seen Williams outside of his 6:00 news role can attest, he was funny, bitingly sarcastic and utterly, if oddly, poignant when discussing the relevance of magazines in 2008.

AOL: Tacoda Not Fading Away; Plans To Integrate the Technology Across Ad.com Next Month (Paid Content)
Despite either laying off or losing nearly half a dozen of its senior executive team over the past two months, AOL is insisting that its behavioral targeting unit, Tacoda, is not being dissolved. The Time Warner unit made a special announcement highlighting its plans to fully integrate Tacoda's tools across AOL's Platform-A ad network of sites by June.

Friday Night Fights: Buzz Bissinger vs. The Internet (Radar)
Tuesday night on Bob Costas' eponymous HBO talk show, Deadspin's Will Leitch sat down with Friday Night Lights scribe Buzz Bissinger to talk about how the Internet is changing sports journalism. So willing was Bissinger to engage Leitch in civilized discourse that he kicked off the proceedings by telling him, "I think you're full of shit." Things quickly spiraled downhill from there.

CNNMoney.com's 'Tremendous Upside' (TVNewser)
CNNMoney.com relaunched in January, with a greater focus on video content. Since then, the site has taken off in its digital influence and amount of traffic. While business newsers followed the action at the Fed, today, at a Time Inc. Digital Showcase, CNNMoney.com general manager and SVP Jonathan Shar discussed the web video results.