It’s been less than four days since Colbert Super PAC changed hands from comedian Stephen Colbert to his colleague Jon Stewart and was renamed the Definitely Not Coordinating With Stephen Colbert Super PAC. Political analysts were wondering how long it would take for the new PAC to start airing ads in South Carolina. Well, wonder no more, because a new ad from the PAC targets Mitt Romney over his “corporations are people” comment.

With the momentous news that Osama bin Laden has been killed, Saturday’s White House Correspondents Dinner feels almost like an event from a bygone era. Still, for those of you who still remember the dinner, but have already seen President Obama‘s blistering Donald Trump routine, or Seth Meyers‘ dry-roasting of the media like so many [...]

Who saw this coming? Okay, fine. Everybody did. But now, with a post on the website of People magazine, it’s official: Katie Couric will step down as anchor of the CBS Evening News. “I have decided to step down from the CBS Evening News,” Couric tells People in an exclusive interview. “I’m really proud of the talented team on the CBS Evening News and the award-winning work we’ve been able to do in the past five years in addition to the reporting I’ve done for 60 Minutes and CBS Sunday Morning. In making the decision to move on, I know the Evening News will be in great hands, but I am excited about the future.”

As we all know, different media outlets have different takes on the same story. We also know that tabloids don’t always tell the entire truth. However, this picture will probably do more to reenforce those two beliefs than any examples I could ever link to. You can just imagine the editors in their office wondering, “Which sells more issues, a miraculous recovery or a tragic death?”

Tiger Woods is speaking publicly about his divorce following this morning’s news that his now ex-wife Elin Nordegren has provided and exclusive to People magazine. Woods revealed in a press conference earlier today that his maritial troubles have “a lot more difficult than I was letting on” and that ““I wish her the best in everything..it’s a sad time in our lives.”

Just over two months after Ricky Martin announced on his website and Twitter that he was gay, we learn today via a tweet by People en Español editor Armando Lucas Correa that the father-of-two Martin will grace the cover of People en Español’s Father’s Day issue.

Following a weekend of speculation launched by TMZ, the Advocate has posted a profile–dated May 5–of Country Music singer Cheley Wright announcing she’s a lesbian. The gay magazine’s announcement appears to answer the speculation launched by super publicist Howard Bragman who said weeks ago that there would be a Cinco de Mayo gay announcement media blitz including a cover of People magazine and trips to the Today Show, The View and The Joy Behar Show.

People magazine with the blockbuster scoop! On NBC’s Today, Managing Editor Larry Hackett broke the celebrity gossip news that everyone has been thirsting for: how Sandra Bullock was dealing with the alleged marital infidelity of her husband Jesse James. Not only is she filing for divorce, but she also revealed that she has adopted a new son.

Every single person involved in the John Edwards story is awful.

But People magazine is still Team Elizabeth, and gets Elizabeth Edwards‘ PR team’s spin reaction to the GQ Rielle Hunter interview. And the Today show dug deeper.

The forthcoming fifth season of The Tyra Banks Show will be its last, the host told People today. “I’ve been loving having fun, coming into your living rooms, bedrooms, hair salons for the past 5 years,” said Banks, who will now focus on her film production company Bankable Studios, but encouraged women to stay fierce.

It’s been widely reported that Time Inc. has been planning a rather significant round of lay-offs before the end of the year. The conventional wisdom around New York publishing circles was that the lay-offs would be coming after Thanksgiving. Unfortunately, that does not appear to be the case, as a Time Inc. spokesperson confirmed exclusively to Mediaite: “Yes, sadly there are layoffs today across a number of titles at Time Inc.

Andre Agassi‘s shocking (or book-selling!) confession that he abused crystal meth in the late ’90s has been the primary promotional push for his upcoming autobiography. Like so many juicy gossip bits today, the info was first reported via Twitter, causing a commotion for media outlets like CBS News and Time Inc., who needed time with their stories. The internet strikes again!

The NY Times reports today that Time Inc. is expected to announce next week that it will cut $100 million in costs and make significant layoffs, describing this as “another blow to what is becoming an increasingly grim industry.” Well, at least some attention is off of Conde Nast.

Many unanswered questions are circulating about the fate of Time Inc, the magazine division of Time Warner. Today AOL blog DailyFinance is reporting that Time Warner CEO Jeffrey Bewkes has said, “Time Inc. is not for sale.” But is the company’s CEO really the most reliable source when it comes to potential business dealings? And on a blog that he owns?

Is the Internet scummy enough to exploit a 17-year-old tennis sensation’s sexuality to drive traffic? Sex Watch is here to see how our link-baiting friends across the Internet are raising traffic — and eyebrows — on the coattails of young, blonde, U.S. Open star Melanie Oudin.

With the death of Senator Ted Kennedy, news magazines were charged with the difficult task of choosing the appropriate cover photograph for an embattled political legend. Would the cover be about documentation, spectacle or celebration? In this week’s Cover Wars, we evaluate the tributes to the last Kennedy brother.

To date, the Dr. McSteamy sex tape is pushing over 2.25 mil. page view on Defamer — a refreshing reminder that Internet content consumers (aka sketchy pervs) love nothing more than watching celebs have sex … or watching them lie around naked and smoke crack, as the case might be. Today Sex Watch follows Eric Dane, wife Rebecca Gayheart and crack-smoking ex-beauty queen friend Kari Ann Peniche around the Web to see just how far one sex tape can go.

Before the Web, magazines were immediate, relevant and “dripping cool,” says veteran magazine guy Jim Gaines. These days, however, magazine websites are none of those things. Enter the online multimedia magazine Flyp, Gaines’ attempt at synthesizing the dripping cool, the gripping narrative and the masterful design of magazines for the Web.

In today’s cutthroat media environment, stories break fast and spoil faster. It doesn’t take long to go from big news to scraps of news to contrary opinions that seem cooked up for shock value. News Decay charts the strange and rapid declines wrought by the 24-hour news cycle.