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What do we learn the morning after?

• Kit Seelye in the Times: Rick Stengel says the newsmags' battle with online news sources is like Henry Luce's original battle with newspapers. John Huey says he started looking for a Jim Kelly replacement in November and since then met several with Stengel to have "lengthy, Socratic discussions about the news and the magazine." The Time staff reacted very happily when Stengel entered the room and they discovered he'd be the new editor — so happily that Huey decided not to give his speech. "I thought, Why mess this up?" he said. "I'll quit while I'm ahead."

• Keith Kelly in the Post: Some staffers worry that Stengel — a longtime Time vet who has spent the last few years running the National Constitution Center — isn't enough of an outsider to bring the changes the magazine needs. "Stengel's an outsider, but he's only been outside for a cigarette break and a walk around," says one. That said, he's hinting at changing the mag's management structure.

• Jeff Bercovici in WWD: Stengel and Kelly had a celebratory lunch at Michael's yesterday, where lots of people sent them celebratory champagne.

• Howie Kurtz in The Washington Post: Stengel wants the magazine to have more star writers like Joe Klein and stronger opinions on things it's writing about.