Morning Links: ‘Investors Have Flocked to Media Stocks’

Advertising is back, according to Reuters. This sounds like a mean prank: “Thanks largely to the strongest advertising spending in years, investors have flocked to media stocks, which have far outperformed the Standard & Poor’s 500 this year.” They keep a straight face though, citing major gains at CBS, Viacom, and Time Warner. We haven’t had coffee yet so it’s possible we’re missing some major caveat, but if not, cool.

A Bill Carter update from the halls of 30 Rock: James Spader will now be a regular star on The Office and BJ Novak likes writing for him, Law and Order creator Dick Wolf will create a show about firefighters, 30 Rock will go on (although only after Tina Fey’s not pregnant anymore) even if Alec Baldwin quits, and either way he’s hosting SNL, as will Melissa McCarthy.

According to a WWD survey, hiring a new editor in chief will improve magazine ad sales marginally, but newsstand sales will continue to drop, unless you redesign, in which case they will drop slower. Unless you redesign and begin putting royalty and zombie royalty on the cover in which case you’re golden.

A Hilton hotel guest is suing the chain for charging him 75 cents for an unrequested copy of USA Today (and all the trauma therein), possibly ending one of publishing’s more pathetic revenue streams which nonetheless brings Gannett $82 million, according to Jeff Bercovici.