UPDATED: The Hollywood Reporter and Billboard Sold, Editor & Publisher and Kirkus Are Shuttered

The New York Post and Paid Content report that Nielsen Communications' $70 million sale of The Hollywood Reporter, Billboard, and other trades to an investor group is done, but that Lachlan Murdoch dropped out at the last minute.
Todd 'Toad' English's Wang Problems: Clarified
We got a tip in this morning clarifying some of the issues that are being studied in the case of Todd English's Cold Feet and Erica Wang. If true, this casts Wang's spin attempts in a considerably more impressive light.
