MEDIA
• Incoming Time Warner CEO Jeffrey Bewkes may well spin off the company’s huge cable unit, but a sale of Time Inc. looks unlikely since the small potential proceeds (and big tax penalty) would little benefit a company of Time Warner’s size. [NYT]
• Times editorial-page editor Andy Rosenthal calls all executive editors, including Bill Keller and his own father, crazy. Sweet. [Radar]
• Rupert Murdoch is confirming to all his friends he plans to bring in Times of London editor Robert Thomson to become the Journal’s publisher as part of an “Aussie invasion” in the first few months of next year. [Guardian via Media Mob/NYO]
FINANCE
• Wall Street has already cut 140,000 jobs, easily surpassing the old 2001 record, and once bonus season hits we’ll likely see bankers leaving in droves. Get your résumés ready! [NYS]
• The endgame for Chuck Prince was finally set in motion when Sandy Weill, the so-called “King of Capital” who built Citi into a behemoth, flew to Riyadh to meet with Prince Walid bin Talal, the largest shareholder in the bank. Two Princes and a King — how Shakespearean! And no, Weill will not return to rescue the kingdom he once ruled. [CNBC]
• Wall Street execs like Citi’s new interim chief, Bob Rubin, have shown off some suspiciously exquisite timing in their sale of insider stock this year. What do they know that we don’t? Um … everything, except how to beat billion-dollar write-downs. [Deal Journal/WSJ]
LAW
• Clifford Chance laid off six New York–based structured finance associates in one of the first big signs that the credit crunch will hurt big law firms. [New York Law Journal]
• Using Facebook to attract new clients? Watch out, or you may run afoul of online legal ethics rules. [Law.com]
• You can blame Schumer for getting Mukasey confirmed! [WSJ]
FASHION
• Milla Jovovich named her daughter Ever. Um, we really can’t add to the taunts that child is going to have to live with. [British Vogue]
• Get your dancin’ shoes ready. Chloé is sponsoring the Guggenheim’s Young Collectors Council 2007 Artist’s Ball. [Fashion Week Daily]
• You, too, can dress like Courtney Love! The original hot mess is selling her old duds on eBay. [Fashionista]
