While CNBC is making their cuts despite record highs in ratings, the guys over at Sirius are trying to find a way to spin the fact that they've lost $4.8 billion this year.

Their current take on it? It's all Howard Stern's fault a write-down because of the crappy economy.

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Michael Regan, the one-time game show host and son of the late President Ronald Regan, sometimes pops up on Fox News and Newsmax.com. But normally, you can hear him on Radio America, the conservative talk radio network that, for the time being, airs the nationally syndicated The Michael Reagan Show. Regan, the McCain backer who once (favorably) compared VP candidate Sarah Palin to his father, has been on the talk radio circuit a long time. But it's time for a new chapter — because he and Radio America are cutting ties as soon as January. How come? From what we understand, when Radio America signed Regan to its network, it also supposedly went behind his back to try and snap up the 200 affiliates that were carrying his show before, in an attempt to add them to the network's own 500 affiliates. "Michael hit the roof," says an insider, who says the guy are Radio America are "real nice" but "Mother Theresa they are not."

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Behind-the-scenes screamer Laura Ingraham has re-upped with a multi-year deal with Talk Radio Network. Who has details on how much this baby is worth? For comparison, remember Sean Hannity's $100 million 5-year deal. [Radio Info via CB]

Is the black press giving Barack Obama carte blanche when it comes to his presidential run the same way the (white) press gave George Bush a free pass when it came to his administration's policies? No!, says one observer of Obama's appearance at the end of the four-day UNITY conference, where he was supposedly grilled by sunkissed members of the media. But when it comes to Obama and black radio? The answer, ahem, flip-flops. Probably as it should.

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"Novel," "unusual," and "complex" are all ways you could describe Fox News personality and black man-maybe hater Sean Hannity's new radio deal that he just inked. It is all those things because it involves an arrangement between Citadel's ABC Networks, who currently broadcasts his show, and Clear Channel's Premiere Radio, which will broadcast the show on stations Citadel doesn't own. Oh, and also: Hannity, the second most-listened to radio personality after Rush Limbaugh, will earn $100 million over five years, plus a cut of profits. A huge payday for a conservative pundit. How novel. [WSJ]

While Don Imus' program began as a radio show that was simulcast on MSNBC, Joe Scarborough's Morning Joe might be going down a reverse path: There's plans for a trial to simulcast the morning talker on radio. That Scarborough got his A.M. show because of Imus' scandal is an irony we won't fail to mention. [CB]

While there are plenty of radio industry insiders who will defend Rush Limbaugh's new $400 million deal — inevitably contingent on ratings delivery and plenty of other factors — one person in particular is pasting a picture of radio giant Clear Channel on his dartboard. It's Vanity Fair's Michael Wolff, who spent the month of May assailing the New York Times and the month of April on the war between John Malone and Barry Diller. On CNBC yesterday, Wolff called the deal "a monster error."

"I know – I’m sitting here saying, ‘What are these people smoking?’ You know, the truth is that Rush Limbaugh has been – he’s ridden the rise of conservatism for 25 years and I don’t, maybe nobody quite, quite has been following the news, but that’s coming to an end. It’s going to be over and Rush Limbaugh in a relatively short period of time is going to look like a really kind of out-of-it kind of oddity and I cannot for the life of me imagine how someone could have made this deal."

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Rush Limbaugh, the most listened-to voice on the radio dial bar none, has signed a $400 million deal that keeps him on the air through 2016, as Drudge breathlessly reports. This deal "SHATTERS BROADCAST RECORDS." Which is technically true: Howard Stern's 5-year $500 million contract with Sirius shattered, uh, "satellite" records. Of which there weren't any to begin with.

The conservative talker, who will be on this week's NYT Magazine, in 2001 signed a $285 million, eight-year deal, which kept him on the air through 2009. This makes his new deal worth $57.14 million a year, which is actually just more than half the $100 million/year Stern's contract works out to. Nevermind that, though: Limbaugh will also get a nine-figure bonus, which he'll use toward the new G550 jet he's buying.

Maybe Don Imus' latest racist flap isn't attracting the outcry last year's "nappy-headed hos" remark did because there are fewer people to cry out to. In this type of situation, the infuriated classes have two people to sound off to: The broadcasters who carry his show (his new five-year $40 million gig is through Citadel Broadcasting and Rural Media Networks) and the advertisers who pay to reach his audience.

Except every since losing his old gig and finding new partners, his reach has slid; he no longer averages the 2.25 million listeners per week he did with CBS Radio. But more importantly, the advertisers who fund his operation – which reaped $20 million a year to CBS' WFAN flagship, plus $20 million collectively to other affiliates – are nowhere to be found.

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If there was one person who could attempt to trump NBC Sports' lead golf analyst Johnny Miller anti-Italian remarks against Rocco Mediate, it's none other than America's Favorite Racist Don Imus. On this morning's show, Imus & Co. were discussing suspended Dallas Cowboys cornerback Adam “Pacman” Jones, who wants to drop his nickname. During the segment, one of his cohorts (perhaps Warner Wolfe?) tells Imus that Jones has “been arrested six times since being drafted by Tennessee in 2005.” Asks Imus: "What color is he?” Response: "He’s African-American." You know where this is going.

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Fans of Laura Ingraham, the conservative radio host, have been able to deal with his disappearance from radio airwaves by tuning into her 5pm guest spot on Fox News. That hasn't settled fears, however, that she'll be back on the dial anytime soon, thanks to a contract dispute with Talk Radio Network, which locked her out of her Washington studio as the two parties wrap up a nasty contract negotiation. Though "negotiation" might be too strong a word — there doesn't seem to be much talking going on about her deal, which expires in September and, until that date, prevents Ingraham from talking to other potential radio employers. Many fans worried that his absence from her regular radio slot was health-related; fears resurfaced that she was once again dealing with a her bout of breast cancer. But she wants to assure fans that her health has nothing to do with the matter: Her cold, dead heart is doing just fine.

There are some media storms that can be weathered. Even the ones that involve connecting "Hillary Clinton" with "big fucking whore," which is what Randi Rhodes did at an event sponsored by her then-employer Air America. When a video surfaced of the event, Air America planned to give her the boot after she refused to apologize, but Rhodes quit before they could. But now … she's coming back. The Randi Rhodes Show will begin airing weekdays beginning Monday, for a 3-hour slot beginning at 3pm. We'd love to hear how the relationship got patched back together from those in the know.

Some Jews are upset the New York Times-owned classical radio station WQXR refused a 60-second paid commentary placement about "bombings carried out against Israel by the militant Palestinian Islamic movement Hamas." Counters the radio station: The ad doesn't make clear the missiles it's talking about aren't being aimed at any part of the station's listening area. [ Apr 8, 2008 · posted by david · Link · Respond

MSNBC may have one regular Air America correspondent on its airwaves, but shockingly the host who called Hillary Clinton a "big fucking whore" was not her! It was Randi Rhodes, here with Bill Clinton, and she said it during a speech at an Air America event where she appeared on behalf of her employer, and a video clip of it popped up on YouTube.

Now the radio network has canned Rhodes, suspending her indefinitely, which means Air America now has three hours of daily programming it's gonna need to figure out.

In a statement, Air America's Charlie Kireker said: "Air America encourages strong opinions about public affairs but does not condone such abusive, ad hominem language by our hosts."

Rhodes hasn't yet updated her website about the ordeal, but we imagine the words "sorry" and "apology" will appear in there somewhere if she hopes to return to air.

The offending video is below.

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Now that the U.S. Justice Department decided the merger of XM and Sirius wouldn't create a monopoly that had an unfair advantage over the competition, it's time to examine how … the press is labeling the deal. Depending on who you ask, it's a deal worth either $5 billion or $13 billion.

Business Week calls it a "$13 billion combination." At the Washington Post it's a "$13 billion deal." PC Magazine opts for "stock swap worth $13 billion."

The New York Times goes with "proposed $5 billion merger." The New York Post opts for "$5 billion union." The BBC considers it a "$5bn (£2.5bn) deal." The Associated Press is on board with "proposed $5 billion buyout."

If nobody is gonna miss some $8 billion, like, could you send some our way?

Don Imus' on-air remarks about an advertiser not only cost the client $40,000 a day in lost book sales (hah!), but have assailed Americans' grasp on history!

Flatsigned Press, which is suing Imus and CBS Radio for $4 million over his remarks last year about the "cheesy" book they were publishing, now claims, thanks to Imus, "much of the public never heard about the new information President Ford left the world regarding the assassination of President John F. Kennedy." They've gone so far as to claim Imus' comments were "libelous," even though, from what we surmised, his statements were nothing more than hyperbolic opinion — though he did go off-script, which may have violated their advertiser agreement.

"The issue of highest concern to me is the fact that Imus’ remarks cheapened perceptions of Ford’s last work and insulted a much beloved American president in the process," reads a statement issued today from Tim Miller, chairman of Flatsigned, which refused 15 "make good" spots to smooth things over. "Until I worked with Ford and published this book, I’d never believed in a conspiracy, and to Ford’s dying day he would never admit to or claim that there was a conspiracy, yet his comments in the forward are laced with hints that warrant thoughtful consideration that there may be more information that the Warren Commission couldn’t discuss in 1963."

By making fun of the book, calling Flatsigned Press "bastards," accusing Flatsigned of "waiting for [Ford] to croak," and reminding listeners "Now that Ford has flatlined, you can go to Flatsigned.com," Imus robbed us all from having that thoughtful consideration that we're now forced to turn to The View for. And isn't that the real atrocity?

One day after Matt Drudge announced that he's abandoning his Sunday radio gig comes word that Barbara Walters will be hosting her very own weekly talk radio show.

The show (cleverly entitled "Barbara Live") will enable listeners to call in with controversial pot-stirring questions like "Was Rosie O'Donnell leaving The View the best thing that ever happened to you, Elisabeth Hasselbeck's tear-ducts?" and "Is Joy Behar as boring in real-life as she seems on tv?"*

"Barbara Live" is slated to premiere on Sirius Radio next Monday, from 6-7pm, just in time for its target demograpic to slowklyydecompress after a long, grueling day of golfing and early-bird specials.

* Translation: benign, uninteresting questions like "What do you enjoy most about working on The View?" and "Barbara, where do you get your suits tailored?"

"Matt Drudge is walking away from his weekly Sunday night talk radio show after a farewell broadcast on Sept. 30," reports Radio Ink. "Premiere Radio Networks is announcing that Bill Cunningham of WLW Cincinnati will take over in Drudge's time slot."

Though abandoning his radio spot, Drudge will nonetheless continue to maintain the Drudge Report, a website he founded for the dual purpose of crashing the stock market and turning a lifelong affinity for stalking into a lucrative semi-respectable career.

In other news, Dick Tracey called. He wants his losery alter ego back.

• Simon Dumenco really only has one friend who was totally psyched about Lindsay Lohan's crotch shots? We have at least four. [Mediaweek]

• Well, if you aren't too into Lohan's vag, you may be more interested in how she is doing her part to bring peace to the Middle East. Anyone would put down their weapons and pick up a box of hair dye at the site of this. [Defamer]

• GQ editors, unable to move forward within their own mag, are forced to take high up positions at much less respected magazines. [Radar]

• Are Nicole Richie and Paris Hilton communicating via BlackBerry? If so, we bet the messages read: "shut up you stoopid hore" and "i h8 u biyotch." [Us]

• Jane Pratt pops a few Prozac and leaves the house to do a radio show. Please keep sharp objects and Sylvia Plath books at a distance. [NYP]

• Oprah is really, really flattered that this guy wants her to be president. Really. He needs to stop before her lawyers rip his face off, but, she's flattered. [AP]

• In an attempt to let the public know he’s not just cool for doing drugs, but for supporting gay people too, Justin Timberlake stands behind Lance Bass. [MuchMusic]

• This is what happens when you come in 2nd place in American Idol: Taylor Hicks gets to do Toyota commercials and Katharine McPhee is forced to talk to Bush. [Mercury News]

• Obviously, you don't have to be cool to be Prince's girl, you just have to be willing to idolize him and give him some of your extra kisses. [Page Six]

• Former radio-host Star distinguishes "mainstream talk" from “hood talk.” [Daily Dish]

• We've asked before and we'll ask again: isn’t there an age-limit for feuding rockers? [Jam!]