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• Lou Dobbs is leaving CNN! Tonight's his last show! Happy Wednesday! [NYT]
• Condé Nast magazines have lost a collective 8,359 pages of advertising in 2009, which represents a 31 percent decline from a year earlier. [NYT]
• One thing that Hearst has going for it: lots of cash in the bank. [NYP]
• Banker-turned-media…

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The Hollywood Reporter has chosen former Variety editor-at-large Elizabeth Guider as its new editor. How does spitemeistress Nikki Finke rate the hire? "[A] joke... an unimpressive choice who sources tell me was passed over and demoted at Variety... [THR] was looking for a softball editor, someone who wouldn't ruffle…