• Phil Anschutz is said to be close to a deal with News Corp. to buy the conservative Weekly Standard. LAT
• Numero Uno grocery magnate George Torres was released from federal custody after a judge threw out two racketeering convictions, based on new evidence from prosecutors of exculpatory statements by an informant. LAT, LA Daily, Star-News
• Leonis Malburg, the embattled grandson of Vernon’s founder, resigned from the city council Monday after 53 years as a public official. Eastern Group

More after the jump. Also: LA Biz Observed headlines

• Senate Democrats want to avert the deepest cuts proposed in Sacramento by raiding the state's emergency fund. Rough & Tumble roundup
• The City Council voted to toughen its requirement that community groups cover the cost of staging street festivals and other events, with a final vote expected next week. DN
  Also: Closes loophole on pot clinics LAT, DN
• Pedicabs could be coming to Downtown streets, but only if onerous rules are rethought. Blogdowntown
• The L.A. cultural heritage commission is seeking authority to prevent demolition of designated landmarks, but it's far from a sure thing. LAT
• The mayor, former mayor and a former council candidate in Temple City are expected to be indicted today on charges of bribery solicitation and failing to report campaign contributions. Star-News
• Tim Rutten calls freeway congestion pricing a slippery slope to toll roads that hurt the working poor. LAT Op-Ed
• Jim Rainey rounds up some of almost unbelievable backlash against support for Laura Ling and Euna Lee, the Los Angeles reporters held in North Korea. LAT
• The western region of the Society for Professional Journalists is accepting applications for the post of regional director. SPJ
• New website for the Southern California jazz community, from Jim Fowler and Bill Bergren: City of the Angels Music.
• The Lakers lost game three of the NBA finals in Orlando, 108-104.