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Sure, it's still not entirely clear that Jim Kelly is leaving the helm of Time magazine anytime soon. And, sure, if he is in fact leaving it's not clear when he'll be leaving. But that hasn't stopped speculation about who'll be his potential successor. Here's a rumor, from a source who has at least a touch of an idea about what he speaks, that showed up in the inbox earlier today:

Michael Elliott (former editor of Newsweek Intl, now Time's intnl editor) wants to be editor of TIME. He's dying for it. Crying for it. Would give his left nut, and maybe his right, and his kids, and his wife, and his soul for it. He's meetin' with the devil right now!

It's not as ridiculous as it sounds. Anyone know anything?

Earlier:
 Lloyd Grove: There Is No Santa
'WWD': Jim Kelly Ain't Out the Door Yet