The death of billionaire Bruce Wasserstein could place in peril the future of New York magazine, which is controlled by a family trust. Many industry insiders think the money-losing magazine will eventually be sold. It might end up in the hands of a group of insiders, or another wealthy investor. "Harvey [Weinstein] and Mort [Zuckerman] would jump at a chance to buy it if it came on the market again," says one executive. Both were among the odd collection of highfliers who were trying to buy New York when Wasserstein swooped in with a $55 million stealth bid …

Gannett has seen a roughly 20% decrease in revenue in the third quarter, but surprisingly that isn't alarming investors. In preparation of the release of the company's quarterly earnings early Monday, experts are weighing in. Gannett was able to make more money than analysts expected because it has cut its payroll and other expenses so dramatically during the past couple years. Its 3Q profit is expected to be well above analyst estimates. A seasonal shift in television advertising accounted for part of the third-quarter revenue erosion. Last year, the presidential election and Summer Olympics fueled an additional …

Radio station owners such as CBS Corp. would have to pay new fees to play music on the air under legislation just approved by the Senate Judiciary Committee. The measure would establish a royalty to be split between recording artists and labels. (Satellite and Internet radio already pay such fees.) Broadcasters making less than $50,000 can pay a flat annual fee of $100, and stations making less than $1.25 million can also pay a flat fee, per the proposal. Similar legislation passed the House Judiciary Committee in May. Music labels, including Warner Music Group, Vivendi, and Sony …

This week the broadcast networks have been moving to the iPhone in a big way. On Thursday, ABC launched a free application for "Dancing With the Stars" which fans can use to vote each week for contestants. The app also serves as a personal dance instructor for users, with step-by-step instructions for the mambo, tango and other dances. The same day, CBS News debuted a free app that offers breaking news and allows users to view Twitter feeds from 40 news reporters. Users can also see full episodes of several original CBS News Web series via the app. …

TBS' coverage of the 2009 Major League Baseball Division Series is getting a boost from out-of-home viewing, per Arbitron Portable People Meter data. Delivery of adults 25-54 improved 27% when OOH viewing was added. The PPM measures viewing in bars, restaurants, hotels and similar areas. On Oct. 7, the first day of postseason baseball, TBS averaged 2.22 million adults 25-54, per Nielsen. Arbitron's measure of OOH viewing in the top 10 markets added another 600,000 members of the demo. Turner will also tap Arbitron to measure OOH viewing for TNT's NBA coverage. While Turner isn't making guarantees against …

Bruce Wasserstein, the Lazard chairman whose properties included New York magazine, died yesterday from heart problems at 61. New York magazine is part of New York Media, which belongs to a family trust. (Wasserstein has a wife and five children from two former marriages.) Wasserstein's ownership has been credited with giving New York the resources to grow in tough times. It is a magazine that needs an owner with deep pockets, one "who had a serious commitment to making it prestigious and smart as possible," says former New York editor Caroline Miller. Under Wasserstein, New York won several …

In the softest summer market since 2001, cable saw its 2009-10 upfront take diminish by 12%, as the networks wrote an estimated $6.73 billion in business. Network and media agency sources concur with the estimate, which was derived from a base sum of $7.65 billion last year. Battered client budgets and mid-single-digit CPM rollbacks contributed to the $920 million shortfall. Another big factor was ad sales executives' desire to hold back inventory for scatter. That strategy that has paid off thus far in the fourth quarter, as scatter sales are fetching 7-9% premiums over upfront pricing.

The San Francisco Chronicle has set up a new electronic edition of the newspaper that is an exact replica of the printed paper and can be read on any computer, Kindle or iPhone. In addition, articles in the new "e-dition" can be translated into one of 11 languages and readers can hear the stories read aloud if they wish. The Economist also recently introduced an audio edition of each issue, in which subscribers can listen to every article. To help drum up a new generation of digital readers, The Chronicle's electronic edition will be provided to about …

Armen Keteyian, the chief investigative correspondent for CBS News, is hard at work on a story close to home -- the alleged blackmail attempt of David Letterman by "48 Hours" producer Joe Halderman. There has been much speculation about how CBS will handle the sticky situation involving two of its shows. Now we have at least a partial answer. The news division is actively investigating the love triangle gone awry between the CBS Late Show host;, his former employee Stephanie Birkitt and Halderman. "Think of the ironies and the awkward position for the CBS corporation," says one of …

Jon Bon Jovi and his band are launching a partnership with the "Today" show and NBCU. On a string of weekly "Today" appearances through November, the group will discuss their lives and music, culminating with the band playing their hits live. The effort is part of a new project by NBC Universal called "Artists in Residence," in which Bon Jovi will appear on multiple programs on NBC and its affiliated cable channels throughout the upcoming month. The band kicked things off by unveiling its new video, "We Weren't Born to Follow," this week. With the music business changing …