• David Letterman's ratings have gone up thanks to his very public spat with Sarah Palin. So don't be the least bit surprised if it continues. [NYT]
• Ann Moore signed a new contract with Time Inc. that will keep her around through 2012; John Squires, meanwhile, has a new gig at the company. [NYP]
• Newsweek is cutting out an issue this summer. You can guess why. [WSJ]
• Martha Stewart Living Omnimedia's latest project? That would be something called "Martha University," which sounds horrifying, frankly. [PC]
• Michael Gross's new book isn't available at the New York Public Library and chances are Annette de la Renta had something to do with it. [NYO]
• Negotiations continue between the Boston Globe and union reps. "People briefed on the talks say a deal is close." Don't hold your breath. [NYT]

The world's largest magazine publisher wasn't kidding about pushing its way onto the Web — even if it had to axe nearly 300 jobs to do it. In fact, Time Inc. has gone almost as crazy for social networks as the venture capitalists on Sand Hill Road. Sports Illustrated's social component, FanNation.com, which Time Inc. acquired last February for a reported $20 million, now boasts 4 million users. So Time Inc. executive John Squires has revealed the media conglomerate's plans to launch more social networks, as companions to its magazines, by early next year.