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Event Photos: eBook Summit Preview in New York
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Facebook Value Hits $9.5B; IPO Coming? (WebNewser)
Based on Facebook's share price of $21 apiece on SecondMarket, an independent marketplace and auction platform for illiquid assets, the social-networking site is valued at about $9.5 billion. Renaissance Capital analyst Paul Bard expects an initial public offering in the next 12-18 months.

Army Keeps Media From Palin Event (AP)
The U.S. Army plans to prevent media from covering Sarah Palin's appearance at Fort Bragg. Spokesman Tom McCollum said the Army did not want the Monday event to become a platform to express political opinions "directed against the commander in chief."

Academe and the Decline of News Media (Chronicle of Higher Education)
Media outlets are drastically cutting staff members, bureaus, page counts, and news holes -- and some are going out of business. Some prominent thinkers on issues of education, communications, and news and cultural literacy talk about how the decline of those news media will affect higher education.

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The veteran reporter and author explored his recent book, "Talent Is Overrated: What Really Separates World-Class Performers From Everybody Else." He also talked about the state of business journalism in this rough economy, giving advice to fledgling business reporters.

The show was hosted by GalleyCat editor Jason Boog and AgencySpy editor Matt Van Hoven. You can listen to all the past podcasts archived at mediabistro.com or download episodes for free on iTunes.

Click here to receive mediabistro.com's Daily Newsfeed via email.

Oprah Winfrey to Leave Talk Show in 2011 (ABC News)
After more than 20 years at the top of the daytime talk show game, Oprah Winfrey's calling it quits. According to insiders, Winfrey informed her staff of her decision late this afternoon in a company meeting, described as "emotional, supportive and respectful." Huffington Post: Oprah's most memorable TV moments. NYT: "The sun will set on the Oprah show as its 25th season draws to a close on Sept. 9, 2011," Tim Bennett, the president of Winfrey's production company, Harpo, said in a letter to her 214 local TV stations on Thursday evening. WSJ: Local TV stations, which use Winfrey to anchor daytime hours, could smart from her move. B&C: Syndicators have been preparing for the day that Oprah goes off the air for years, but fragmentation has made developing the next big daytime hit tougher than ever.

Media Columnist Among BusinessWeek Casualties (FishbowlNY)
Media columnist Jon Fine, who has been enjoying a six-month sabbatical since September, will not be returning to BusinessWeek after it gets taken over by Bloomberg. "I have absolutely no regrets," he said. Fine and wife Laurel Touby wrapped up the first leg of their worldwide tour earlier this month. Silicon Alley Insider: Other longtime reporters cut from the magazine as well. NYP: Bloomberg is expected to eliminate up to 130 employees out of a total 400 -- a staggering 32-percent staff reduction.

With 90 Laid Off, AP Finally Hits Payroll Cut Goal (FishbowlNY)
Last year, Associated Press CEO Tom Curley told staff that the company needed to cut 10 percent of its payroll. Voluntary buyouts, a hiring freeze and layoffs this year moved the company toward that goal -- and now the AP says it has achieved 10 percent by laying off 90 people let go across the organization. Gawker: The AP layoff list. FishbowlNY: The News Media Guild, which represents 1,300 Associated Press employees, said four bureaus are also being closed due to the cuts.

Video GalleyCat: Stephenie Meyer and Twilight Versus the National Book Awards
FishbowlNY: Media Columnist Among BusinessWeek Casualties
FishbowlDC: Fishbowl 5: Washington Life's Kris Apodaca
FishbowlLA: Will Ferrell Tops Forbes' 10 Most Overpaid Stars
BayNewser: Oakland Local Almost at 10K Uniques Per Month, Accelerating Ad Strategy
WebNewser: Twitter Dumps 'What Are You Doing?'
TVNewser: Journalists Examine Cable News' Role in Financial Crisis
PRNewser: Rachel Maddow Calls Out Another PR Firm; This Time It's Porter Novelli
MediaJobsDaily: WSJ Hiring For City Posts Has Begun
UnBeige: Vogue Design Director Danko Steiner Departs; Wintour Recruits Raúl Martinez
AgencySpy: AT&T Loses First Legal Battle, Makes Things Worse With Luke Wilson Ad
MobileContentToday: Gartner 2012 Top 10 Consumer Mobile Apps List & What Gartner Missed!

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How To Pitch: The Hollywood Reporter

AOL To Cut 2,500 Jobs After Spinoff (Reuters)
AOL plans to cut one-third of its workforce, or about 2,500 jobs, in an effort to trim some $300 million in annual costs as part of its planned spinoff from Time Warner Inc. The struggling Web pioneer said it has asked for volunteers, but will perform involuntary layoffs if enough workers do not step up.

How Reddit's Social-Media Dream Deal With Condé Nast Fell Apart (The Big Money)
Although Reddit has had solid traffic growth since its 2006 sale to Condé Nast, both founders announced they were leaving the company on the day their contracts with Condé Nast expired. The dissolution of the Condé Nast-Reddit partnership says a lot about the oil-and-water mixture of old media and new.

YouTube Launches Full-Length Shows Section in the U.K. (Guardian)
YouTube has launched a new shows section for U.K. users as it taps into rising online demand for full-length television programs. The new section provides the first shows from a landmark deal with Channel 4 announced last month.

We also talked about the National Book Awards which were held in New York City last night, giving the inside scoop on the publishing industry's Oscars.

The show was hosted by GalleyCat editor Jason Boog and AgencySpy editor Matt Van Hoven. You can listen to all the past podcasts archived at mediabistro.com or download episodes for free on iTunes.

Click here to receive mediabistro.com's Daily Newsfeed via email.

See all How To Pitch articles

Novelist Colum McCann Wins National Book Award (AP)
Colum McCann's Let the Great World Spin, a novel about daring, luck and mortality in 1970s New York, won the fiction prize Wednesday night at the 60th annual National Book Awards. T.J. Stiles' biography of Cornelius Vanderbilt, The First Tycoon, was the nonfiction winner. GalleyCat: Video interview with NBA nominees.

Condé Preparing E-Reader Version of Wired (WSJ)
Condé Nast and Adobe are building a digital version of Wired magazine for electronic reading devices. The Wired e-reader application will be available by the middle of next year and will kick off similar efforts across Condé Nast's magazines.

Fox Caught Airing Wrong Crowd Footage -- Again (Chicago Tribune/The Swamp)
Fox says its misplay of the wrong crowd video in a story about Sarah Palin yesterday was another regrettable mistake. Fox host Gregg Jarrett was talking about Palin's book tour and the large crowd she is drawing at the start of it -- but the accompanying crowd footage was from the 2008 campaign.

TVNewser: Nicolle Wallace Calls Sarah Palin's Description of Couric Interview 'Fiction'
BayNewser: Citizen Journalism Site AllVoices Adds a Network of Professional Reporters
WebNewser: Microsoft Links Outlook with LinkedIn
PRNewser: Poll: Do Goldman Sachs' Latest Actions Change Your Perception of the Company?
FishbowlNY: Auletta on Letterman: I Bet They'll Settle
FishbowlDC: Roland Martin Inspires ESPN "Ascot Day"
FishbowlLA: Hey LAT, Is There Nothing Else to Have an Opinion About?
MediaJobsDaily: DS Healthcare And Reactions From Around The Web
GalleyCat: Last Day for Early Bird Discount on eBook Summit
UnBeige: Thomas Kinkade Gets 'Cannibalized' in Recent Exhibition
AgencySpy: McCann Milan's Poignant Message=Plagiarism?
MobileContentToday: Notebook Reliability is Not the Only Measure to Consider-Repair Response is Even More Important

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Lunch: TV Titans, Ivana Trump, & Devo! (FBNY)