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Court Tosses FCC 'Wardrobe Malfunction' Fine (AP)
A federal appeals court on Monday threw out a $550,000 indecency fine against CBS Corp. for the 2004 Super Bowl halftime show that ended with Janet Jackson's breast-baring "wardrobe malfunction." The three-judge panel of the 3rd U.S. Circuit Court of Appeals ruled that the Federal Communications Commission "acted arbitrarily and capriciously" in issuing the fine for the fleeting image of nudity. NYT: The court also ruled that the F.C.C. had been wrong to hold CBS responsible for the actions of Janet Jackson and her performing partner, Justin Timberlake. LAT: The ruling was another blow to FCC chairman Kevin J. Martin's tough indecency policies, which broadcasters have fought aggressively in the courts.

Times Wants McCain Op-Ed -- But Only if Edited (NYT/The Caucus)
The Op-Ed section of The New York Times has decided not to publish an opinion piece submitted by Senator John McCain in response to one published last week by his Democratic rival, Senator Barack Obama, on his plan for Iraq. Times officials said David Shipley, editor of the Op-Ed page, kicked back the original version while offering suggestions for changes and revision. TVNewser: Cable networks cover rejected McCain op-ed.

Icahn Gets Seats on Yahoo Board (NYP)
After more than a month of trading blows, it's kiss-and-make-up time for rebel investor Carl Icahn and Yahoo chief Jerry Yang. Icahn -- having failed to secure a new takeover offer from Microsoft CEO Steve Ballmer -- approached Yang over the weekend to work out a settlement that would give him three seats on Yahoo's newly expanded 11-member board. LAT: With more than $1.5 billion spent on a 5% stake in Yahoo, Icahn will probably take an active role on the board. Analysts expect him to use his board seat to pressure Yang to pursue bold strategic changes and revive growth after a long decline that made Yahoo vulnerable to Microsoft's unsolicited takeover attempt.

Product Placement in TV News? (NYT)
Name-brand products make regular appearances on television shows, where they are typically written into a drama, comedy, or reality program. But in recent weeks anchors on the Fox affiliate in Las Vegas, KVVU, sit with cups of McDonald's iced coffee on their desks during the news-and-lifestyle portion of their morning show. Execs say the promo will shore up ad revenue and will not influence content. Las Vegas Sun: The station and McDonald's won't disclose how much the fast food empire paid for the product placement. But lest there be any concerns about mixing fact (the morning news) with fiction (fake coffee), KVVU news director Adam P. Bradshaw points out that the cups are put out only after 7 a.m., when the hard news gives way to light lifestyle news.

For Jay Leno, Parting is Such Sour Sorrow (WaPo)
Tonight Show host Jay Leno showed up at the Summer TV Press Tour 2008 to bat NBC suits around a bit. He was disguised as a reporter in the audience during a Q&A with NBC Co-Chairmen Ben Silverman and Marc Graboff -- just as ABC late-night host Jimmy Kimmel had posed as a reporter during ABC Entertainment President Steve McPherson's at-bat with reporters earlier in the tour. USAT: NBC, aware that Leno is likely to jump ship, says it's still trying to keep him.

Ebert & Roeper Leaving the Balcony (USAT)
Chicago Sun-Times film critic Roger Ebert says he's cutting ties with the television show that he and the late Gene Siskel made famous. In an e-mail to the Associated Press on Monday, Ebert said Disney-ABC Domestic Television had decided to take the show "in a new direction" and he won't be associated with it. Sun-Times columnist Richard Roeper said he was leaving the show also.

Radio Host Michael Savage Defends Comments About Autism (NYT)
Michael Savage, the incendiary radio host who last week characterized nearly every child with autism as "a brat who hasn't been told to cut the act out," said in a telephone interview on Monday that he stood by his remarks and had no intention of apologizing to those advocates and parents who have called for his firing over the matter.

Feds: Philly Ex-Anchor Hacked Colleague's Email (AP)
A fired TV newscaster was charged Monday with hacking into the e-mail of his glamorous younger co-anchor hundreds of times for more than two years. Federal prosecutors say former KYW-TV anchor Larry Mendte gained access to Alycia Lane's accounts from home and at work -- about 537 times between January and May alone -- and shared some of the information he found with a reporter.

More Than 20 Suitors for RBI (Folio)
More than six months after Reed Elsevier announced it was putting Reed Business Information on the block, BusinessWeek parent McGraw-Hill has emerged as one of more than 20 companies that are interested in purchasing it. Private equity groups Cinven, Permira, Providence Equity Partners, and Bain also were reported as interested parties. First round bids are said to be due by mid-August.

Time Warner's AOL 'Nightmare' May Worsen on Slowdown (Bloomberg)
Time Warner's struggle to sell AOL is putting more pressure on the media company's stock price as an advertising slowdown spreads to the Internet and the pool of potential buyers shrinks. The slump diminishes AOL's value and adds urgency to talks about a sale, said investor Anthony Valencia of TCW Group Inc. "The longer the wait, the chance of value going down increases considerably," said Valencia.

Sarah Jessica Parker Lands Show at Bravo (Hollywood Reporter)
Sarah Jessica Parker's art competition reality show has found a home at Bravo. The network has picked up American Artist, from Parker's Pretty Matches production company and wunderkin producers Magical Elves, as part of its development slate. Bravo is expected to announce the deal Sunday at the Television Critics Association press tour.

WaPo Investigations Editor Defends Chandra Levy Series (E&P)
More than a week into the Washington Post's 13-part series on Chandra Levy's murder, Jeff Leen, the lead editor on the series, says the investigation has turned up things even some investigators didn't know. Leen also says that criticism of the "serial" as too long is unfounded, noting that last year's Pulitzer Prize-winning series on Vice President Dick Cheney was some 5,000 words longer.

Why Newspapers Shouldn't Allow Comments (Gawker)
Sheila McClear: Comments are thought to be an added value to a newspaper's site -- providing another reason to read. You come for the article, and stay for the interesting discussion. The only problem is, there is no interesting discussion. Almost never. Not even from the mythical supersmart New York Times readers.

Would 'Rathergate' Make a Good Movie? Hollywood Insiders Working on Screen Adaptation (NYO)
A team of Hollywood insiders is currently working on a screen adaptation of Truth And Duty: The Press, the President, and the Privilege of Power -- the 2005 book by former CBS News producer Mary Mapes, in which she defends the 60 Minutes II story by Dan Rather about President George W. Bush's time in the Texas Air National Guard, which led to her ouster from the network.

Black Day for Web's BlueCollar (Hollywood Reporter)
Funny or Die has suffered a death in the family. A sister Web site to the Will Ferrell-fronted humor hub that once featured the stars of Blue Collar Comedy is being shuttered by FOD's parent company, Or Die Networks. The site is being yanked because its traffic came up short of internal expectations.