• Veteran theater producer Rocco Landesman has been nominated to be the next chairman of the National Endowment for the Arts. [NYT]
• Why did David Geffen try to buy a stake in the New York Times? It wasn't because he thought he'd make money, that's for certain. [Newsweek]
• After taking some heat over a $75,000 speaking fee he received last week, the Times's Tom Friedman says he now plans to return the money. [LAT]
• Sarah Palin's book deal with HarperCollins is a go. How much money was involved isn't clear but the memoir will be out in 2010, which just so happens when she'll be running for reelection in Alaska. [LAT, AP]
• Bad news, hooker fans: Craigslist is dropping its erotic services section. [WP]

• The Cannes Film Festival is underway. [THR]
• Bertelsmann reported a first-quarter loss of $106 million. [Reuters]
• Is Showtime having a good year or bad year? A bit of both, it seems. [NYM]
• LVMH was not at all pleased to see a pair of counterfeit Louis Vuitton sunglasses on the cover of the new issue of XXL. [WWD]
• Struggling tabloid OK! is believed to be losing $1 million a week. [NYP]
• The scoop on Richard Abate's ouster from William Morris-Endeavor. [P6]
• Ashton Kutcher very blah web series, "Blah Girls," is headed to TV. [Variety]