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25-Year-Old Law Student Buys New York Observer (NYT)
Jared Kushner, the son of a wealthy New Jersey developer who was sentenced to prison last year, has bought The New York Observer, paying what one person familiar with details of the sale said was nearly $10 million for a majority stake in the weekly newspaper. NYP: Kushner's imprisoned father, Charles, "will have no part of the investment or any role in the paper," said family spokesman Howard Rubenstein. NYDN: Current publisher Arthur Carter will stay on as a consultant and maintain an interest in the paper he founded in 1987.

Billionaires Bid for Los Angeles Times (LAT)
Philanthropist Eli Broad, who is involved in downtown redevelopment, entertainment mogul David Geffen and former supermarket baron Ron Burkle all expressed their interest in separate letters this month to the paper's owner, Tribune Co. But each was told the newspaper was not for sale.

Rupe to Offer Tony Blair News Corp. Role (Independent)
Media magnate Rupert Murdoch is expected to offer British Prime Minister Tony Blair a senior role at News Corporation when he steps down — almost certainly next year. Friends say a seat on the board of News Corp. could tempt Blair, as it would dovetail neatly with the lucrative U.S. lecture circuit. NYT: A weekend at Rupert's, with a few friends.

Newspaper Web Sites Start Linking to Rivals (NYT)
The Washington Post, The New York Sun and The Daily Oklahoman have contracted with an online news aggregator, Inform.com, to scan hundreds of news and blog sites and deliver content related to articles appearing on their Web sites, regardless of who published those articles. NYP: AOL is revamping its video portal this week to give visitors one-stop access to clips, including those at rival sites like YouTube.

YouTube Passes MySpace as Most Popular Community Site (Guardian)
YouTube has established itself at the top of the league of the new generation of community Web sites, becoming even more popular than MySpace, according to research. The video sharing site has taken a 3.9 percent share of global internet visits a day compared with 3.35 percent for MySpace.

TONY Launches Broadband Video Channel (Mediaweek)
Time Out New York has launched a broadband video channel that serves as a Web counterpart to the magazine's branded video on demand channel, launched in New York on Time Warner Cable last year.

The Moguls of New Media (WSJ)
As videos, blogs and Web pages created by amateurs remake the entertainment landscape, unknown directors, writers and producers are being catapulted into positions of enormous influence.

How to Revive Struggling, Possibly Dehydrated MTV (B&C)
MTV Networks' record of stunning double-digit-percentage cash-flow growth is in trouble. Ad dollars started slowing earlier this year. Nielsen ratings are mixed. And top executives are urgently scrutinizing every cost, right down to curtailing bottled-water deliveries.

CNN to Boost Citizen Journalism Initiative (Reuters)
The cable news network plans to announce it has created a new program to let users send in digital audio and video from breaking news events in their region. Users can e-mail or upload these so-called "I-Reports" directly to CNN's site.

New Marie Claire Editor Slams Covergirl Ashlee Simpson (NYT)
The pop star sister of Jessica Simpson appeared on the July cover of Marie Claire magazine extolling the virtues of appreciating one's body as it is — then she had a nose job. Both the magazine's readers and its new editor, Joanna Coles, have been outspoken in criticizing Simpson.

From Ink-Stained Wretches to Fashion Plates (WWD)
Despite being infamous for frumpiness, journalists didn't do too badly on Vanity Fair's International Best Dressed list, which this September appears in the new forum of the magazine's first-ever Style issue.

NBC, ESPN Clash as TV Football Nights Shift (WSJ)
NBC and ESPN are gearing up for an advertising Super Bowl, as two staples — Monday Night Football and the Sunday night game — shift networks. Both networks need to persuade legions of fans to change deeply-ingrained TV habits.

Ad or Editorial Content? Readers Must Figure It Out (NYT)
Both Nascar racing and feature films are notorious for their high levels of product placement. Now, a new film about a Nascar driver has achieved its own prominent placement in both the advertising and the editorial pages of The Sporting News magazine.

NBC's Curry Hopes Reporting Can 'Make Americans Care' (USAT)
Pick your humanitarian crisis — whether it's war in the Middle East, starvation in Africa, an earthquake in Pakistan or Hurricane Katrina — and chances are good that Ann Curry, who reads the news on Today and co-anchors Dateline, will be there.

TV Newsmags Go for the Blood and Guts (WaPo)
Howard Kurtz: Television news — especially local television — has always been drawn to crime. But in a country in which more than 16,000 murders were committed last year, are the killings of ordinary people, however tragic, really worth all this airtime?