Rumors are swirling that Conde Nast is buying one of publisher Jann Wenner's prized publications, either Rolling Stone or Us Weekly. Portfolio's Jeff Bercovici says Us Weekly, “a cash cow,” is likely on the block, noting that if Barack Obama were to win the presidency, it could result in a higher capital gains tax and make a sale less profitable. Us Weekly's price tag could hit $750 million, says the New York Post's Keith J. Kelly. A Wenner Media spokesman dismissed the rumors, first raised by PBS' Charlie Rose.
Also in the media glare:
The Washington Post is reportedly considering the launch of a politics-only Web site.
CBS completes its acquisition of CNET.
Wall Street Journal chief political reporter Jackie Calmes leaves the newspaper to cover national economic policy for The New York Times.
Fox News says it was wrong to show graphic crime scene pictures of dead model Ruslana Korshunova.