• Glenn Beck is Time magazine's cover boy this week, sadly. [Time, HuffPo]
Spike Lee and Robert De Niro are teaming up with Showtime "to develop a drama series about Manhattan's Alphabet City." [THR]
• Twitter is now worth $1 billion, believe it or not. [TechCrunch]
• Nikki Finke hears that Variety is planning to start charging for access to its website and The Hollywood Reporter is dropping its daily print edition. [DHD]
• Jenna Bush made her debut on the Today show this morning. [BS]
• An update how Jay Leno's new show is faring three days in. [NYT]
• An update on the protracted legal battle between CBS and ex-anchor Dan Rather, a feud that only "seems to get pettier by the day." [TDB]
• Fox 5's Ernie Anastos managed to both embarrass himself and coin a delightful new catchphrase on the news last night. [Gawker, NYP, B&C]

• Is Vivendi selling its 20% stake in NBC Universal? It's a secret! [THR]
• Ad spending has declined for a fifth consecutive quarter. [WWD]
• Both Tina Brown and Frank Rich of the New York Times are still consulting for HBO, just in case you were wondering about that. [NYO]
Mehmet Oz may not be the world's best heart surgeon, but TV viewers (not to mention Oprah) love him: Ratings for his new show have been strong. [MW]
• Two French men have been arrested for hacking into aSmallWorld. Which is sad when you consider that: a) aSmallWorld doesn't keep store sensitive info such as credit card numbers; and b) even if it did, it's not like more than a dozen or two people actually still use the social network these days. [HuffPo]