Media Bubble: The New New 'New Republic'

• The New Republic has its first "bloodless transition" of editors in many years, as nebbishy-novelist-brother Franklin Foer takes over for incumbent Peter Beinart, on whose watch the magazine lost 40 percent of its circ. [NYT/NYO]
• Sale of Spin closes today for "well under $5 million." In 1997, it was sold for $42…