Stephen Colbert will be Newsweek's guest editor next week. [NYO]
• Conan O'Brien's second Tonight Show dropped 30 percent from Monday's record-setting premiere, although that was probably to be expected. [THR]
• For the third straight month, MSNBC bested CNN in the cable news ratings. Fox News remained in first place, as usual. [Daily Finance]
• More bad news for CNN: Campbell Brown returned from maternity leave this week and immediately returned to fourth-place in the ratings. [THR]
• A new Harvard Business Review study reveals that 10 percent of Twitter users account for more than 90 percent of Twitter messages sent. [AdAge]
Jon & Kate Plus 8 is still generating obscene ratings, sadly. [AP]

• Things are pretty tense at the Boston Globe ahead of Monday's vote on proposed salary cuts. The Newspaper Guild is accusing the New York Times Co. of "threats, bullying and negotiating at gunpoint." [BTP, Romenesko]
• Eminem is still No. 1 on the charts despite a drop-off from last week. [LAT]
• Apparently the media is now to blame for the financial crisis. [E&P]
• Facebook is introducing a "payments system." [FT]
• Plot details from the Wall Street sequel currently in the works. [DHD]