This morning on “Live! with Regis and Kelly,” Regis Philbin surprised audiences with a shocking announcement that he’ll be stepping down from his position as host and plans to make an exit in the fall of 2011.

“This will be my last year on this show” the television host, age 79, said. Regis Philbin had a 28 year run and claimed it was the “biggest thrill of his life”.

Co-host Kelly Ripa said: “I think I can only speak for America and all of us here when I say it has been a pleasure and a privilege and a dream come true. And I wish I could do something to change your mind”.

It’s sad to see Regis Philbin retire as he was a true TV legend and one of the most genuine people on television. In the words of Regis Philbin, “there is a time where everything must come to an end for certain people on camera, especially old people.” Regis may be stepping down, but his media legacy will live on.

Regis Philbin Announces Retirement is a post from: Nicky Papers

It’s not a surprise that Four Loko has become a hit on black markets in New York and New Jersey. Investigative reporters at NBC New York thought they were slick when purchasing a 12-pack of Four Loko from an unsuspecting Craigslist seller in the Upper East Side of Manhattan for $80.00.

NBC New York indicated that the Four Loko dealer placed a mark-up of more than 300% on the product and dozens of sellers have posted Craigslist ads charging anywhere from $4.00 to $8.00 per can as opposed to only $2.00 to $3.00 when the drink was legal.

Police Chief James Batalli has taken the lead on the Four Loko black market investigation according to a report from NBC New York. Batalli and his team of “cyber detectives” are cracking down on Craigslist posters advertising the sale of Four Loko at steep prices.

Police Chief Batalli said: “It’s a very expensive black market item that people are price gouging and making a lot of money on and they’re making a lot of money on people’s health”.

If difficult to take Police Chief James Batalli seriously as the operation is being handled with the same level of diligence that would be applied to drug or gun trafficking. We’re talking Four Loko here, not crack cocaine!

Mahwah Police share the details on the latest Four Loko Ring busted by detectives posing as college students at an undisclosed location near Ramapo College.

Detectives arrested Stephanie Gomez, 21; of South Plainfield, Johana Gonzalez, 20; of West New York, and Gina Capardi, 23, of West Caldwell, for selling an alcoholic beverage without a state license. The charge is a fourth-degree crime that’s indictable and carries a maximum sentence of three years in jail. The girls were released without bail pending a municipal court appearance on January 25th 2011.

Do police really have that much spare time to arrange a sting operation against college students selling Four Loko? If that’s the case, our safety is in jeopardy as investigating heinous crimes should take precedent over the recent Four Loko Prohibition that’s been stirring a buzz.

Underground Four Loko Rings Revealed is a post from: Nicky Papers

The future of print media is not looking bright. American Media, the publisher of The National Enquirer has filed for Chapter 11 bankruptcy. It’s been confirmed that the private media company reported the terms of the prepackaged plan were approved by 75% of AMI bondholders and the majority of creditors with voting privileges.

Management teams expect the bankruptcy plan will allow for the company to restructure. David Pecker (CEO) expects that the restructuring period will last less than sixty days and there will be no impact on employees, vendors, advertisers, subsidiary companies, customers, and partners.

Additionally, Mr. Pecker firmly stated, “It will provide the company with the ability to compete even more aggressively with our peers in the industry.” A court filing shows that the company has more than $1 Billion in liabilities. Chief Pecker has got his work cut out for him.

American Media Inc. owns and operates leading celebrity and health & fitness media brands in the United States. Magazines have a combined total circulation of 6.8 million readers and reach more than 54 million men and women each month. Web properties reach an average of 10 million unique visitors and 100 million page views monthly.

Simply put, the print side of the business is weighing the company down. Web properties such as Radar Online have gained traction over the last few years. The ability to distribute digital content quickly, provide a level of user interactivity, and generate revenue with less overhead creates a business model that embraces the future of media.

Digital media is often appealing to both readers and advertisers as content can be consumed from a variety of Internet enabled devices and the performance of advertising campaigns can be tracked in real-time.

Print media will always have an audience with respect to the niche, readership, or audience. The future of print media is in question as key demographics are gravitating toward content that’s being delivered digitally.

National Enquirer Files for Bankruptcy is a post from: Nicky Papers