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De Niro Group Ends Talks Over Possible Observer Buy (NYT)
Talks are off between the New York Observer and Robert De Niro's Tribeca partners, who had sought to become a major investor in the paper, both parties said yesterday. The weekly has been seeking a financial partner; Tribeca Enterprises seemed the most likely to succeed and had all but signed a deal. NYP: Commented one insider: "This can't be a good thing. Maybe [owner Arthur Carter] really doesn't want to sell it."

Chicago Tribune Considering Ads On Section Fronts (Crain's Chicago Business)
The Wall Street Journal is allowing ads on the front page. The New York Times now prints ads on the front of its business section. As struggling American newspapers offer up higher-visibility pages to advertisers, will the Chicago Tribune be next?

Macy's to Be Subject of New Reality Show (NYT)
Set for broadcast in September, Unwrapping Macy's will offer a behind-the-scenes look at how the retailer operates its stores, selects merchandise, creates a catalog and runs events like the annual Thanksgiving Day parade, said one of the producers behind the show.

Playboy Pares Staff, Editorial Budget (NYP)
Playboy Enterprises Inc. will reduce its annual programming and editorial budgets by about $4.5 million and eliminate about 30 jobs. The reductions come as the company has struggled with steep losses at its namesake adult magazine due to depressed advertising and lower newsstand revenue.

Viacom Chairman: Stock Sales Are a Formality, Not a Valuation (NYT)
When the major shareholder in a company sells shares as that company's stock price declines, it can be a warning flag to investors. But that is not the case at Viacom — which owns media properties including MTV and DreamWorks — says Sumner M. Redstone, the company's billionaire chairman.

Federal Prosecutors: Leak Investigations a 'Huge, Dangerous Waste of Time' (WaPo)
Bruce W. Sanford and Bruce D. Brown: The Plame investigation has led many of D.C.'s finest journalists to ponder how to dumb down files and remove traces of contacts with sources as if they worked in the capital not of a great democracy but of Kafka's or Orwell's nightmare of a police state.

Editor Hicklin Ready to Debut New Out (WWD)
Aaron — "Let's be Bowie gay, not Cher gay" — Hicklin will be unveiling his rejiggered Out magazine over the next three issues. So what, exactly, is more Ziggy Stardust than "If I Could Turn Back Time"?

NBC to Offer Show Previews to Netflix Subscribers (AP via LA Daily News)
Subscribers of the online movie rental service will be able to rent DVDs with the debut episodes of Studio 60 on the Sunset Strip and Kidnapped starting Aug. 5, about six weeks before the shows premiere on television.

Prevention Names Ex-Fitness Editor To Top Post [FishbowlNY]
Liz Vaccariello was named editor-in-chief of Rodale's Prevention magazine. The announcement comes on the heels of Fitness' official annointing of Denise Brodey as its editor. Mediaweek: Vaccariello will take her new position in early August and succeeds Rosemary Ellis, who became editor-in-chief of Hearst Magazines' Good Housekeeping in May.

British TV to Air 'Masturbate-a-Thon' Show (Guardian)
Chris Shaw: "We feel this is exactly the type of provocative and mischievous programming that Channel 4 should be covering" — in other words a few hundred men and women rubbing their genitals is not just some cheap publicity stunt but is actually part of the broadcaster's core mission.

Bravo Had Hoped to Get New York Post for Tabloid Wars (Eat the Press)
The show's producers initially approached the New York Post about being featured in the series, but Post editor-in-chief Col Allan turned them down. Through Post rep Steven Rubenstein, Allan confirmed that he had declined Bravo's offer, saying "We're all about making great newspapers."

Televisa Sues Univision for Web Rights (LAT)
Televisa, which lost its bid to acquire Univision but still holds 11.4 percent of the company, is seeking a ruling on whether its current agreement to provide programming to Univision prohibits the company from broadcasting the same programming over the Internet.

PBS, NBC Lead News & Doc Emmy Nominees (FishbowlNY)
Not unsurprisingly, Katrina and Iraq stories dominate this year's list of nominees for the News and Documentary Emmy Awards. PBS leads the way with 33. CNN — whose coverage will be remembered not only for Anderson Cooper's star-making turn but for a late-night outburst involving meteorologist Chad Myers — received six.

The Case Against the Media Grab (SFBG)
Editorial: The damage that the proposed San Francisco-area newspaper consolidation could do is long lasting and irreparable. Once the papers are all fully integrated under the MediaNews umbrella, there will be no way to unscramble the egg.

No More Anytime Minutes for Tribune Journos? (Broward-Palm Beach New Times)
A memo sent by the Orlando Sun-Sentinel's controller said if it is determined that calls on a company cellphone are personal, employees who made the calls will be expected to reimburse the company for the cost of the calls — and perhaps fired if they don't get in line.

Macho Man Savage (SF Weekly)
Those who dare disagree with radio talker Michael Savage on-air are apt to be dismissed as "vermin" and get the treatment reserved for the caller with a Brooklyn accent who suggests that maybe the host is being too harsh on Congressman Jack Murtha. For that, he's berated as "street slime from the gutters of Brooklyn."