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Pearlstine Ready to Hand Over Reins at Time (NYP)
Time Inc. Editor-in-Chief Norman Pearlstine is expected to formally hand over the reins to Editorial Director John Huey sometime on or before Nov. 1.

WNBC News Held Story of NYC Terror Threat (Newsday)
Public officials cited national security, public safety and ongoing operational concerns, stressing that if the broadcaster went ahead with the story on Tuesday, people could be placed in harm's way. NYDN: Mayor Bloomberg praised WNBC reporter Jonathan Dienst at the start of a news conference during which authorities announced the threat.

AOL to Calcanis: Relax, This Won't Hurt a Bit (WaPo)
Jason Calcanis' Weblogs Inc. will reportedly retain complete editorial control and independence as the company is taken over by AOL, according to executives. Ted Turner probably got that line too. Guardian: Poll shows a third of 14- to 21-year-old Brits now have their own online content. Economist: David Sifry, the founder of Technorati, is betting on a change in the nature of the Internet.

Eisner Cuts Ties With Mouse House (LAT)
Michael Eisner has resigned from the board of the company he ran for 21 years. The Walt Disney Co. said in a filing that Eisner "no longer provides any services" for the entertainment and broadcasting company. NYT: Robert A. Iger will earn $2 million a year in salary and is eligible for a yearly bonus of about $7.25 million as long as the company meets certain performance standards.

Koppel to Host Last Nightline Nov. 22 (AP via Yahoo!)
Koppel has anchored the program since its official launch in March 1980. The show grew out of a series of special reports about the Iranian hostage crisis that began the previous November.

Famed Saudi Female Journo Absconds to Paris (Jerusalem Post)
Journalist Rania al-Baz, whose battered face publicized the problem of domestic abuse, left her country hiding in a truck last weekend across the border to Bahrain.

Red Rover, Red Rover, Fitz Calls Karl Over (NYT)
The special prosecutor in the C.I.A. leak case has summoned Karl Rove, the senior White House adviser, to return next week to testify to a federal grand jury in a step that could mean charges will be filed in the case.

Clooney: Money Killing the News (The Evening Standard)
"For about 30 years, networks lost money on news but made it back on entertainment," said George Clooney. "In the past 20 years, someone figured that you could make money doing news. And that's when it became dangerous."

Journalist Sues Kerry (Philly Daily News)
A prize-winning journalist and decorated Marine sniper, Carlton Sherwood contends the senator and other Democrats torpedoed his anti-Kerry documentary, Stolen Honor: Wounds that Never Heal.

Smith Is Our Shepard (Reuters)
Fox News' Shepard Smith delivers the news in a trademark clipped, anchor-with-attitude style that has helped set the tone for the channel's hard-news coverage.

'Woodstein' Tops Journo Film Roles (Court TV)
Court TV compiled the list to mark the release of two new critically-acclaimed movies based on the lives of Edward R. Murrow and Truman Capote.

ESPN in the Zone (BusinessWeek)
The cable channel's boss George Bodenheimer has made ESPN a model for a wide range of companies, media and others, struggling to make their brands work in new markets. Mediaweek: ESPN reorganizes.

Jon Stewart's Mag Criticism Reverberates (Folio:)
Dylan Stableford and Bill Mickey: Judging from some of the cacophonous buzz since, you would think the history of magazines will be divided henceforth into two time periods: B.S. and A.S. ("Before Stewart" and "After").

Fox Nabs Swanson (B&C)
Veteran TV station executive Dennis Swanson, most recently the No. 2 executive at the Viacom Station Group, is jumping to the Fox Television Group to be president of its 35 Fox and UPN stations.

Broadcaster to Sell Off Radio Stations (NYT)
Susquehanna Media, the nation's largest privately owned radio broadcaster, is near a deal to sell its group of radio stations to investors for more than $1 billion.

Channeling Red Sox Nation (Slate)
Bryan Curtis: The bard of the Boston sports scene is Bill Simmons, the ESPN.com columnist who calls himself the "Sports Guy." Read his loose, rambling dispatches and you are likely to see a consciousness resembling your own.

Old Media's Lame Duck Days (BusinessWeek)
Jon Fine: Late 2005 may be remembered as the interregnum between the era dominated by the old media giants and the one in which Yahoo! and its ilk began running things. OJR: Is Yahoo public enemy No. 1 for Big Media? asks Mark Glaser.

Canada to Ex-Con Cinderella: Eh, Okay (Reuters)
Worried Martha Stewart fans can relax—the ex-felon lifestyle guru will indeed be rowing a giant 600 lb decorated pumpkin across a Canadian lake this weekend after all.

—David S. Hirschman

IN YESTERDAY'S MB BLOGS:

What Should 'World News Tonight' Become? [TVNewser]
"There's much talk of whom ABC News will pick to succeed the late Peter Jennings as evening news anchor, with the latest speculation that Bob Woodruff and Elizabeth Vargas will be named as co-anchors," Media Life Magazine says. "But the more critical question is what World News Tonight should become."

Happy 50th, National Review [FishbowlDC]
National Review turns 50 today. The conservative magazine has remained at the forefront of conservative thinking and, perhaps even more importantly, they've managed to successfully utilize the Internet (through great blogs) to both further their reputation and readership.

It's the Great Pumpkin, Martha Stewart! [FishbowlNY]
Drama! Suspense! Excitement! Just your everday ordinary Pumpkin Festival in Windsor, Nova Scotia up in everyone's favorite northerly neighbor. This year's festival promises to be a real hum-dinger, thanks to the proMised presence of Martha Stewart, everyone's favorite formerly incarcerated domestic diva.

Paramount's Grey has Dinerstein and Vitale fading to black... [FishbowlLA]
EXCLUSIVE: Fishbowl L.A. has learned that Paramount Classics has new leadership on the way. The current team of Ruth Vitale and David Dinerstein has been fired. They had recently made headlines for being in the wrong end of a bizarre legal tug-of-war with Fox Searchlight over the new Robert Duvall-starrer, "Thank you for Smoking." Searchlight's Peter Rice had carried the day with the film's producer, pointing out (presciently, it turned out) that the two were not going to be able to stick around and handle the film.

Putting the Madness and Vulgarity Behind Her [GalleyCat]
For somebody who just a few weeks ago was cancelling all her interviews after a bit of candid commentary blew up in her face, Zadie Smith (left) sure is yakking it up with the AP.

We Were Also Seeing Leather Everywhere [UnBeige]
Browsing the House and Home section this morning (Cuttings is the lead???) we came across this short piece by our bff Stephen Treffinger, entitled Leather Interiors. Which got our antenna up. Which grew even more when we saw the question. I'm seeing leather everywhere this fall. How much is too much?

The Zoo: Week Fourteen [mbToolbox]
Today is the fourteenth in a series of posts by San-Diego-based writer Thomas Shess who has decided to keep a journal on his journey to find a publisher for his novel.