♦ What does Bravo have in the works to replace Project Runway if it moves to Lifetime? There's a Runway ripoff called The Fashion Show. There's also Celebrity Sew-Off, in which "celebrities" will compete in a competition for their own clothing label, which should be totally awesome because we've always wanted to buy jeans designed by Jill Zarin. [THR]
♦ The sponsors for Bravo's fifth season of Top Chef? Campbell's Soup, Diet Dr. Pepper, and Quaker. [AdAge]
♦ Because you haven't heard enough about Bravo today, the NYT magazine profile of Bravo boss Lauren Zalaznick (left) is now online. [NYT]
♦ More details on the cuts and layoffs at Condé Nast. [NYP]
♦ Condé Nast's glitzy Fashion Rocks show is no more. [AdAge]

Kara Swisher's new pet media blogger Peter Kafka praises CBS executive Quincy Smith, shown here, for picking up CNET. Revenues were up 6 percent in the most recent quarter, with a 12 percent increase in display advertising. But wait a second: Aren't display ads most of CNET's revenue? The company also makes money through e-commerce referrals and the sale of marketing data — which suggests something went wrong enough in CNET's other businesses to blunt the welcome rise in advertising.

Amber waves of grain, arthritis ointment application, an emotionally distant Sarah Silverman the morning after—The Barack Obama Show really offered something for everyone. And by "everyone" we'd include network heads, as preliminary Nielsen numbers show the 30-minute hope-infusion juiced ratings across the board. Even ABC's struggling Pushing Daisies benefited from a small counter-programming bump, though still only managed to squeak out a meager 2.2. From THR:

Snuffed. After Fox's hotel sitcom Do Not Disturb and ABC's traveling game show Opportunity Knocks, the third series to be tapped on the shoulder by the Grim TV Reaper's distal phalanx is a series entitled The Ex List (red flag #1), an "hourlong comedy" (red flag #2) based on an Israeli hit (you know where this is going) about a thirtysomething woman who's told by a psychic that she has one year to...ugh, we can't even finish this. The official line is that it hasn't yet been officially canceled, but rather "pulled from the network lineup," to be replaced by NCSI reruns. That could all change, however, when years later a psychic tells Les Moonves that one of his short-lived series was the only thing that can save his job, sending him on a frantic search for the hastily dismissed project. [AP]

It's almost enough to make you feel sorry for the belligerent old Viacom and CBS owner: Sumner Redstone is facing the sort of debt that would send most people into a nervous breakdown. First he has to weasel out of paying an $800 million Bank of America Securities loan before the end of December. But that's not the worst of it. He then most get unanimous consent from 55 separate institutions to refinance another $800 million loan. The Post thinks he might be toast:

♦ Cuts have arrived at Hearst: Cathie Black (left) is "going floor by floor at the Hearst Tower to trim costs and staff positions." [WWD]
♦ Lloyd Grove talks to Tina Brown about her new site and the economic climate: "It's pretty scary. It's scary, scary, scary." [Portfolio]
♦ The New York Times Co. reported profits fell 51 percent for the quarter amid the drop in advertising sales. Traffic to the Times website, however, is up. [Bloomberg, AP, NYO]

Imagine you have $800 million due to various banks in two months, and your chief holdings are a couple of billion dollars in rapidly-declining CBS and Viacom stock. You've opened some delicate negotiations with the bankers into how you'll, uh, pay them. What do you do? If you're Sumner Redstone, you immediately take the obvious option — sell some more shares! — off the table, and then proclaim you don't know how all this happened because you don't really run your company (National Amusements). Then in the future, presumably, you can tell your mouthy daughter you were "forced" to sell her movie theater chain because it was the only option left, ha ha. That'll teach her to try and be your successor! That's just how Sumner rolls, said the Wall Street Journal:

The Tivo users among us have decided that they no longer need to watch television commercials, but rest assured that their unpatriotic fast-forwarding will not go unpunished. The entire advertising industry in now engaged in nothing except figuring out how to make TV viewers watch ads whether they want to or not. The most popular method is to try to turn commercials into "shows" themselves, or mix up advertising and actual content so much that you have to watch both. But CBS is raising the question: what if the advertising and the content are equally annoying?

♦ Judy Miller is joining Fox News as a contributor. [WaPo]
♦ David Carr chats with lousy market prognosticator Jim Cramer, who concedes that it's "a completely humbling market," but won't apologize for suggesting everyone take their money out of the market. [NYT]
♦ Jeff Zucker says NBC will cut $500 million from its 2009 budget. [Reuters]
♦ Jeff Probst has a new show in the works: Live Like You're Dying will feature Probst taking a terminally-ill person on "the last adventure of their life." [EW]
♦ A report on the mood at the Frankfurt Book Fair. [NYO]
♦ Rick Yorn has left the the Hollywood management powerhouse the Firm. [Variety]
♦ Max Payne was the No. 1 movie at the box office this weekend, racking up $18 million in ticket sales. [LAT]

Here's a preview of John McCain on Late Show tonight. He told host David Letterman, "I screwed up," then laughed and did a little "gee whiz" shrug, and made an awkward joke about being tortured in Vietnam. "What can I say?!" the Republican presidential nominee asked. Um, maybe give a reason why you lied about having to fly back to DC when you bailed on Letterman's show last time? Apparently that wasn't in the cards. Letterman later hit McCain for paling around with Watergate burglar and would-be firebomber G. Gordon Liddy, even though McCain has slammed Barack Obama for an arguably more distant relationship with 1960s radical William Ayers. By the end of the segment McCain appeared to be in full retreat on the Ayers issue. Witness McCain statement at the end of the clip after the jump (along with more bizarre face-pulls).

Old Viacom overseer Sumner Redstone announced last week that he had to sell hundreds of millions of dollars worth of his company's stock, after the Wall Street crash left him short on cash to back a huge loan. Then this week, out of the blue, his daughter Shari Redstone, who runs the movie theater portion of National Amusements (the other parts being Viacom and CBS), sent out a statement to the media saying, basically, "HEY, THIS ISN'T MY FAULT!" What's the deal with this madness? Shari wants to run the whole company whenever her dad keels over, but her dad's not so sure that's a good idea, so they kind of hate each other. Sumner never even said that this whole stock sale was the fault of the movie side of the business; Shari went public anyhow:

Look, you're going to be reading a lot on AdAge and NewTeeVee and Silicon Alley Insider about YouTube's deal with CBS to run full-length TV shows, and what this means for online-video advertising models and what this means for the Google-owned site's rivalry with Hulu, the joint venture between NBC and News Corp. Blah blah blah. Let me abbreviate it for you:MacGyver will now be available on YouTube, and you won't have to watch it in frequently taken-down 10-minute chunks. Yeah, you didn't know that was a CBS show, and you didn't care. But it's on YouTube! Californication, too. It airs on Showtime, which is owned by CBS. But what it really means to me is that my Duchovny-obsessed writer, Paul Boutin, is going to get even less done. Thanks, YouTube!

Looks like old Viacom chief Sumner Redstone is the first media mogul to take a significant hit from the present awful economic climate for media companies (Pictured: Viacom's stock chart for the last year). And by "significant hit," we mean "being forced to sell $400 million worth of stock."

♦ Sumner Redstone is being forced to sell about one-fifth of his stake in CBS and Viacom to meet the terms of various loan agreements. Also: Shares in Viacom plunged after the company announced third-quarter earnings fell short of estimates. [Bloomberg]
♦ It's official: Hearst's Cathie Black announced CosmoGirl will fold. [Portfolio]
♦ A little perspective: Time Warner is now less than one-quarter of what AOL alone was worth before the merger. [SAI]
♦ After much drama (and a few leaked emails), Scott Rudin has decided to talk away from The Reader. [THR]

It was announced today that Barack Obama will be buying a half-hour of primetime television on both CBS and NBC just a few days before the November 4 election. The political infomercial reps good news for both networks (which can pre-empt low-rated shows like Gary Unmarried and Knight Rider in favor of a pre-sold half hour), but it may be even better news for the frisky Craigslister who just posted this offer:

Barack Obama purchased a full half-hour of airtime on CBS and NBC. His very special infomercial is set to air Wednesday, October 29. John McCain probably can't afford to do this! It's also not unprecedented: Ross Perot did it, and it was hilarious and awesome. Also they used to do it all the time in the 1960s. But jeez, a half-hour is a long time! We hope he has a musical guest or something? Here is the best part of this news: "The buy will push CBS comedy 'The New Adventures of Old Christine' to 8:30 p.m. and pre-empt 'Gary Unmarried.' NBC typically airs the hourlong 'Knight Rider' in the slot, and will likely throw in a comedy repeat at 8:30 p.m." Thank you Senator Obama for preempting Gary Unmarried! Change you can believe in! In response, Senator McCain is going to co-host an infomercial for the Flavor Wave Over Turbo, which will air at 5 a.m. the following morning on Lifetime.

♦ Some 66 million tuned in to Tuesday's debate between Barack Obama and John McCain, up from 55 million for the first debate on Sept. 26th. [NYT]
♦ A recap of Michelle Obama's appearances on the Daily Show and Larry King last night. [NYT]
♦ Barack Obama's campaign purchased a half-hour of airtime from CBS for a primetime special on October 29th. [THR]
♦ CBS's Dean Reynolds isn't happy about how the Obama campaign treats the media; fellow reporters take Reynolds to task. [CBS, Radar]
♦ Arianna Huffington: Not such a nice boss! [Gawker]
♦ Haute Living: Not such a fun place to work! [Jossip]

♦ Sean Hannity has signed a new "multi-year" deal with Fox News. [THR]
♦ Cutbacks at the Wall Street Journal: Reporters will only get one laptop now, not two. [Gawker]
♦ Ratings for Meet the Press have dropped since Tim Russert's passing. [NYP]
♦ The New York Times is shutting down the website for the International Herald Tribune. [E&P]
♦ People is rushing to market a 96-page, soft-cover book commemorating Paul Newman. [Folio]
♦ Dan Rather is seeking to expand his suit against CBS. And he's "only" making $1.5 million a year at HDNet, in case you were wondering. [Bloomberg]
♦ Dreamworks is downsizing. [Nikki Finke]
♦ The Natalee Holloway made-for-TV movie is on the way. To Lifetime, naturally. [NYP]
♦ Ryan Seacrest's radio show is coming to New York. And some people wonder why radio is dying. [NYP]

You have to give credit to the people who have the unenviable job of selling enough online ads to keep the New York Times afloat. At least they're brainstorming! Already this year they've experimented with creative strategies like selling the entire top of the homepage to Apple. And today, we see, they've come up with yet another space that can be "sponsored": The archives! The CBS show Eleventh Hour has a "sponsored archive" of free NYT stories about cloning humans and stuff, which presumably is a topic related to Eleventh Hour. It might grate on traditionalists, but we can't hate on things like this too much. Better to sell new online ads than, say, start plastering the front page of the print edition with ads. Besides, Thomas Friedman's mustache wax ain't free.

At CNET, the heads keep rolling, nearly a year after Gamespot editorial director Jeff Gerstmann was sacked. Stephen Colvin, an executive who oversaw Gamespot, is out of the company, a tipster tells us. Gerstmann's firing came after a negative review of an advertiser's game, which made him a cause célèbre among gamers. What Gerstmann's fans will say: That Colvin and other suits are getting what they deserved for ruining the CNET-owned gaming site's editorial credibility. Josh Larson left CNET, now owned by CBS, in April. Colvin, a former magazine executive who was Larson's boss, joined CNET a year ago, shortly before the Gerstmann incident. His exit comes as CBS rejiggers CNET's generous benefits, our tipster says: