Rupert Murdoch announced today that Roger Ailes has signed a five year contract extension with News Corp.

Ailes serves as Chairman and Chief Executive Officer of FOX News and Chairman of FOX Television Stations.

“Roger has done a remarkable job building FOX News into a force in journalism and built a great asset for News Corporation,” Murdoch said. “I have complete confidence in his talent and his editorial judgment. Under his leadership, I believe that FOX Business Network will become the strongest competitor in financial television news.”

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Big Get For Katie:

Katie Couric to interview Joe Lieberman.  Interview tonight at 6:30 p.m. (Huffington Post)

Plus:

Former MSNBC Anchor, Dan Abrams, to Form Abrams Research Consulting Firm (NYT)

Time Inc. is expected to cut more than 250 from the payroll as part of an overall plan by Time Inc. CEO Ann Moore and Editor-in-Chief John Huey to slash 600 jobs from its overall work force of 10,200 employees worldwide. (NYP)

Time Inc.’s Cottage Living, a four-year-old shelter magazine, bites the dust (NYP)

Google makes Life magazine photo archives available to the public (Guardian UK)

Ad Sales down for TV Sports (THR)

No Post-Election Slump for Fox News (Mediaweek)

ABC says Ashley Alexandra Dupre sat down with Diane Sawyer on the program “20/20.” (HuffingtonPost)

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MSNBC’s “Morning Joe,” is on a tear!

Perhaps Joe Scarborough saying f*(k attracted more viewers? (above clip)

The show, which has long held the number three spot behind the dominant “Fox & Friends” and “American Morning,” is poised to knock CNN’s “American Morning” out from #2, according to reports.

No surprise here for CoverAwards. We’re picking this show to be number one on cable within six months!

FLASHBACK: Make the jump for Morning Joe’s apology for dropping the f-bomb on-air.

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Palin to Break Silence on McCain Aide Attacks in Fox News Interview with Greta Van Susteren (HuffPo)

Associated Press Hosting Crisis Summit for Newspaper Industry (E&P)

Hot Editor in Chief Interviews (CoverAwards)

Craig Matters, a Money veteran who’s been serving as executive editor of sister title Fortune since May, is the Money’s new Managing Editor (Portfolio)

Meredith Slices Into Sales Staff, Publisher Jack Bamberger exits (Mediaweek)

Obama Is Hard to Write Jokes About (Portfolio)

Boston Globe Cuts 42 Jobs (Mediaweek)

HAVE A GREAT WEEKEND!

Fox News boss Roger Ailes doesn’t want to spoil Barack Obama’s political honeymoon, reports Rush & Malloy.

A source says Roger Ailes has told prime-time hosts Bill O’Reilly, Sean Hannity and Greta Van Susteren to lay off the President-elect - at least for a while.

“We’re not going to have any personal attacks on Obama,” a network insider says. “The public has spoken - we must treat him with respect.”

I give them 1 day - actually let’s see how they respond to Barack Obama’s first press conference at 2:30 today.

The McCain camp went off the record during the campaign about Sarah Palin’s lack of knowledge regarding basically everything.

And, now the dirt is flying since the campaign is over.

Just wait to Sarah Palin fights back.

It’s going to get really nasty!

No Clear Winner: Palin Beats Expectations, Biden Does Well

New York Post Cover Story

New York Daily News Cover Story

Newsday Cover Story

New York Times Cover Story

Boston Globe Cover Story

Anchorage Daily News

Orlando Sentinel

St. Louis Post Dispatch

L.A. Daily News

Related:

New Obama Ad Tears Down McCain On Honesty

Lies and Deception Pepper John McCain’s Campaign

John McCain’s Most Recent Attacks Against Obama

Keith Olbermann scores a major feature story in this week’s New Yorker.

Among the many highlights is his entertaining battle with Fox’s Bill O’Reilly of The O’Reilly Factor.

From Olbermann’s desk at MSNBC, he can see Fox News’ headquarters - where he used to work.

“Sometimes I imagine that I hear a howl coming from there,” Olbermann told the New Yorker.

“I have been accused of having an obsession with him. I am a minor-leaguer compared to his obsession with me.”

The feud has attracted so many viewers to Olbermann’s Countdown show that he admits, “I really do owe him [O'Reilly] a percentage of my salary.”

Want to read more and find out why Olbermann told President Bush to shut-up? Click here.

(New Yorker)