In your drenched Wednesday media column: the NYT pay wall draws near, a royal wedding can't sell magazines any more, Anderson Cooper reams an old Texas man, James Hibberd moves to EW, and Romenesko is all weird now.

In your perplexing Wednesday media column: Mort Zuckerman's eying Newsweek, movie stars are creeping off our magazine covers, the owner of the Cubs knows news, and people at People are out the door.

As if celebrity babies didn't face enough perils — paparazzi, feuding celebrity parents, ill-advised playdates with Michael Jackson — they now have to keep a weary little eye on the stock market. Because amid Wall Street meltdown and the worst advertising decline in seven years rumors are now swirling that the …

America's celebrity magazines are facing a grave situation: the interest in celebrities themselves is not great enough to move the millions of copies they need to sell. No, all that people really want to see are celebrity babies. That's where the money is these days. But the vital open flow of capital in our national…

For unclear reasons, the Times felt compelled to hand a huge chunk of its Sunday Business section over to a profile of Bonnie Fuller—the woman most responsible for creating our nation's soul-destroying cast of powerful celebrity magazines—who was recently axed from her multimillion-dollar gig as editorial chief of…