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Couric Will Stay at CBS

MEDIA • CBS News president Sean McManus denied that Katie Couric will leave CBS Evening News before the end of her five-year contract. [AP via Fox News] • CNBC and the Financial Times plan to join forces and share content in case Rupert Murdoch's Dow Jones bid goes through. [WSJ] • TV Guide is moving into The New Yorker's old offices on West 43rd Street. [NYP]

Did You Hear the One About the iPhone Nano?

FINANCE • A JP Morgan analyst got canned for writing a report about a fictional Apple product, the iPhone Nano. [Apple 2.0 via DealBreaker] • Using the screen name Rahodeb, Whole Foods CEO John Mackey posted on Yahoo Finance bulletin boards to bash competitor Wild Oats. [Deal Journal/WSJ] • The SEC tries to reclaim authority over hedge funds by writing rules allowing the agency to sue for misleading investors. [Bloomberg]

No Vindication for Jane Pratt

MEDIA • Jane Pratt doesn't feel vindicated that Jane was killed but does feel bad for its employees. [Radar] • Kevin Reilly, the former chief programmer for NBC, was picked up by Fox after losing his job to Ben Silverman. [NYT] • The Nation asks its readers to chip in for "The Great Postal Crisis of 2007." [FishbowlNY/Mediabistro]

‘Jane,’ So Over

MEDIAJane mag is dead. [Radar] • The Dow Jones board will meet with Ron Burkle today, but an alternative deal to Murdoch's appears unlikely. [NYT] • MTV Networks negotiated its upfront ad sales partly based on commercial ratings. [WSJ]

Goldman Shrugs Off Threat

FINANCE • "Goldman Sachs. Hundreds will die. We are inside. You cannot stop us," say nine letters mailed from Queens to newspapers across the country. The letters were signed "A.Q.U.S.A.," but law enforcement isn't too concerned. [CNN/Money] • UBS CEO Peter Wuffli takes the fall for Dillon Read Capital Management by leaving the bank. Marcel Rohner is the new chief. [NYT] • Lehman wants to hire as many summer analysts as possible in order to avoid those dreadful college-recruiting visits. [Bankers Ball via DealBreaker]

A New Bid for Barneys

FASHION • Jones Apparel is entertaining an unsolicited $900 million bid for Barneys New York. The department store was promised to the government of Dubai last month for $825 million. [Reuters via NYT] • Cathy Horyn's next grand feature will be on LVMH's Sidney Toledano. [Fashion Week Daily] • Claudia Schiffer is Karl Lagerfeld's muse in the new Dom Pérignon ads. [British Vogue]

Scarborough Takes Imus's Slot

MEDIA • Joe Scarborough picks up Don Imus's coveted MSNBC morning slot. [Radar] • The Dow Jones editorial-independence agreement with News Corp. stipulates that disputes will be aired on the Journal's editorial page. [WSJ] • News Corp. bought two Bronx weeklies, expanding its weekly neighborhood newspaper holdings. But how well will Murdoch papers go over in Greenpoint and Williamsburg? [NYT]

The Return of Imus?

MEDIA • CBS Radio employees are hinting that Don Imus may be back in the fall. [NYP] • Former Intermix head Brad Greenspan, who once owned MySpace, has made his own bid for Dow Jones. [NYT] • Universal Music has canceled its contract with iTunes and will now sell music through Apple at will. [NYT]

Capitalists Against Michael Moore

FINANCE • Maria Bartiromo tried to interview Michael Moore on the floor of the NYSE, but the exchange barred the director from entering. [NYDN] • A scathing farewell e-mail from a young JP Morgan banker is probably a hoax. The supposed author says he didn't write it and still has his job. [DealBreaker] • Bear Stearns' CEO James Cayne is suffering from poor self-esteem following the near collapse of two hedge funds. [NYT]

Murdoch Waits on Bancrofts

MEDIA • Rupert Murdoch reaches a deal with Dow Jones and gives the Bancrofts three weeks to take it or leave it. [Reuters] • Jeffrey Goldberg, The New Yorker's Washington correspondent, defected for a top role at The Atlantic. [WWD] • Secret passageway from Sardi's to the Times building no longer a secret, or useful. [NYO]

Bedbugs Infest Cadwalader, Wickersham & Taft

LAW • Bedbugs infest Cadwalader, Wickersham & Taft's New York office, but the person who "brought the insects into the firm … is no longer associated with the firm." [Above the Law] • Wannabe law students are looking to blogs and independent rankings for information about prospective schools. [WSJ] • Two partners at Chadbourne & Parke are drafting a lawsuit to force the New York State Legislature to raise judicial pay. [New York Law Journal]

Only Larry King Will Have Paris

MEDIA • Larry King will get the Paris Hilton interview. No money changed hands, but neither will any significant questions. [TMZ via Mediabistro.com] • News Corp. and Dow Jones are close to terms for maintaining the Journal's newsroom independence in the event of a takeover. [NYT] • Jason Binn will merge Niche Media (Gotham) with Greenspun Media Group (Vegas). New company has sixteen titles and expected revenues of over $300 million. [NYT]

Hedge Funds Open to Petty Commoners

FINANCE • Steve Schwarzman's company may be public, but the Blackstone head retreated and declined to ring the opening bell at the NYSE this morning. [NYP] • The Supreme Court made it harder for investors to sue companies and executives for suspected fraud. [NYT] • The Wharton School hired a marketing guy as its next dean. Rich alums, hold on to your wallets. [DealBook/NYT]

GE Wants In on the Dow Jones Action

MEDIA • GE and Pearson, the parents of NBC and the Financial Times, are considering a rival bid for Dow Jones. [NYT] • Quadrangle Group bought Dennis Publishing for $240 million and is courting editorial talent. [WWD] • Demand for ad space pushes Page Six up to three pages. [NYT]

Charney’s Lawyers Toss Around Casual Nazi References

LAW • One of Aaron Charney's lawyers accuses Sullivan & Cromwell of having "adopted Dr. Mengele's techniques to torture the facts and law of this case." [Above the Law] • More than twenty lawyers filed an objection against the $125-apiece BAR/BRI settlement. [National Law Journal] • Summer associates at Pillsbury Winthrop practiced researching things in books this week. Next week: writing briefs by hand. [Law Blog/WSJ]

The Hatfields and McCoys of East Hampton

FINANCE • Squabbling neighbors Jim Chanos of Kynikos Associates and Marc Spilker of Goldman Sachs are providing this summer's drama in East Hampton. [Portfolio] • HBO is planning a new series about hedge-fund managers. Sounds more Entourage than Sopranos. [DealBreaker] • Australia leads in the world in paid time off, while the United States bests only Vietnam. [CNNMoney]

When $160,000 Isn't Enough

LAW • With the rest of the country matching the $160,000 mark, do New York's first-years deserve another raise? [National Law Journal] • Some lucky law students win the lottery to take the New York Bar on a laptop. But most are stuck writing longhand. [Above the Law] • Disgusted Yale Law students have sued the director of AutoAdmit.com for unflattering message-board postings about them. [Law Blog/WSJ]

You Know, For Kids

MEDIASeventeen will introduce an online game for teen girls called "Editor's Assistant." Well-heeled parents not required for play. [WWD] • Daniel Menaker, the editor who signed Ben Kunkel and Gary Shteyngart, will step down as executive editor-in-chief at Random House. [NYT] • First they came for the book reviewers. Now it's the classical music critics. [NYT]