Janice Min isn't renewing her contract as editor-in-chief of Jann Wenner's Us Weekly. Her No. 2, Michael Steele, will become acting editor in chief. [NYT]
• Condé Nast announced yesterday that it had retained the management consulting firm McKinsey to "develop new perspectives." They sure have their work cut out for them. Condé revealed today that its monthly mags witnessed a 37 percent drop in advertising in September. [Gawker, AdAge, NYO]
• More pain at Condé may be on the way: "Significant cost cuts, including more layoffs and the closing of more magazines" are coming, says Keith Kelly. [NYP]
• Yet more Condé news: The company is closing down Men.Style.com so it can focus on the soon-to-be relaunched websites of GQ and Details. [AdAge]
• The Boston Globe's largest union voted yesterday to approve the new contract that had been proposed by the New York Times Co. [NYT, E&P]
• This can't be a good sign about the state of affairs at CNN: Time Warner Cable is moving it from channel 10 to 78 and replacing it with FX. [MCN]

• Barnes & Noble is jumping into the electronic-book market and is planning to compete with Amazon and Sony with its own e-bookstore. [WSJ]
• Roll Call has acquired Congressional Quarterly. [NYT]
• ESPN announced yesterday that it plans to launch localized websites in Los Angeles, New York and Dallas within the next year. [LAT]
• Warner Music is in licensing talks with YouTube. [Reuters]
• A former lawyer for media mogul Haim Saban is accusing Saban of misappropriating $36 million in connection with a illegal tax shelter. [NYT]
• Remember the wiretapping scandal by News Corp.'s British tabs? It turns out that James Murdoch, son of News Corp. chairman Rupert Murdoch, agreed to a $1.1 million settlement with one phone-tapping victim in 2008. [BN]
• Aaron Bruns, the former Fox News employee who pleaded guilty to possessing child pornography, has been sentenced to 10 years in jail. [AP]
Vanity Fair cleverly sent Sarah Palin's resignation speech to its copy and research departments. Hilarity ensued, naturally. [VF]