CBS, CNN talk partnership

If this sounds like an old story, it's because it is. For years, both news organizations have flirted with the possibility of some sort of joint operation, and there have been a few limited crossovers (Anderson Cooper doing occasional "60 Minutes" stint, for example). But this time could be the real thing. "It's been going on for a couple of months," a source tells NY magazine. "They're in deep talks." It's all about cutting costs and expanding operations, and both shops are struggling to do both.

This time around, television executives speculate that the economics make too much sense. CBS News has previously expressed interest in recruiting CNN star Anderson Cooper, who already appears as a contributor to 60 Minutes. And next May, Katie Couric's reported $15 million annual contract with CBS is up for renewal. A combined CBS-CNN might offer more possibilities to negotiate Couric's new deal while giving her additional opportunities to showcase her interviews.

These sorts of arrangements are notoriously tricky to work out because they're not traditional mergers. You're still dealing with two separate sets of books, ad rates and newsroom personalities. The magazine describes the talks as "still fluid," which means that they're probably some ways off from preparing the press release.