• It's an ugly day at MySpace. The News Corp.-owned social network is slashing nearly 30 percent of its staff, or 400 people, due to a decline in sales. [BN, PC]
• Protesters in Iran have been using Twitter to keep up with developments on the ground. Now the State Department is stepping in and asking the company to put off a planned upgrade so service isn't disrupted. [Reuters]
• MTV entertainment president Brian Graden is departing the network. [NYP]
• It's official: NBC is dumping Live at Five and replacing it with an hour-long "daily information, lifestyle and entertainment show." [NYO]
Interview dropped editorial director Glenn O'Brien last week. Now the magazine's parent company, Brant Publications, is suing him for allegedly breaking the terms of his confidentiality agreement. [WWD]

• More on the feud between Silvio Berlusconi and Rupert Murdoch, a tiff that involves underage girls (Silvio) and satellite television (Rupert). [NYT]
• WOR loves Glenn Beck so much, it's giving him an extra hour. [NYDN]
Newsweek and Time are hoping to save themselves from extinction. Michael Hirschorn shares thoughts on why they're a decade late to the game. [Atlantic]
• One media segment that's doing fine amid the recession: videogames. [THR]
• Just in case the grim news about newspapers didn't convince you, a new report says the industry will lose $25 billion in revenue through 2013. [E&P]
• But there's good news, too: The same report indicates that the magazine industry should recover "modestly" by 2013. [MW]