Jason Binn's Niche Media has discovered a winning commercial formula for Hamptons and its other magazines: print party photos of socialites; invite advertisers to parties at which said personages are supposed to be present, but usually aren't; and get them to spend on advertising to this largely fictional audience. (Much like the rest of media, but more so.) The greatest cost-saving innovation of all: journalism is a superfluous function. As Binn has demonstrated by appointing his wife and chief salesperson to top editorial positions.

Binn is to name Cristina Greeven Cuomo, wife of the ABC News anchor, as editor of Gotham, the oily mini-tycoon's Manhattan flagship. Cuomo is beautiful and well-connected; she comes, however, from advertising sales. Her boss? Editorial director Haley Lieberman Binn, whose qualifications include a rich father in real estate, a marriage to Niche's founder and, says our mean-spirited spy, a certain skill with diapers. But, hey, words: who reads them?

(We suspect there must be some good Jason Binn stories out there. Does he still pander to the Clintons? How much control did he give up in the recent merger? What's with that weird mincing walk? Page Six gives the Niche Media founder a free pass. Gawker doesn't. Send in your tips.)