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♦ NBC chief Jeff Zucker is tightening making another round of cuts. This time it's CNBC, which will see its budget slashed by 10 percent. [NYO]
♦ A group of liberal activists printed up fake copies of the New York Times today to hand out to passerby in Midtown. [NYT]
♦ Gerard Baker has been named deputy editor-in-chief of The Wall Street Journal and Dow Jones. [Romenesko]
♦ Katie Couric's advice for Sarah Palin: "I think she should keep her head down, work really hard and learn about governing." [Page Six]
♦ John McCain's first TV appearance since he lost the election translated into big ratings for Jay Leno's Tonight Show. [THR]
♦ Monday's interview with Sarah Palin was also a winner with Greta Van Susteren's On The Record earning its best ratings of the year. [B&C]