One of television's oldest and most powerful names is about to get a little less powerful.

Media mogul Sumner Redstone is selling nearly $1 billion shares of CBS and Viacom to pay off a big portion of his debt to preserve his media empire. He owes nearly $1.46 billion and has to pay at least $500,000 of it by the end of October. Maybe he's got some used DVDs he can sell at his local Gamestop.

Of course, he'll still maintaining "controlling interest" in both companies but it won't feel the same. Now, no one will have enough power to make media bigheads like Stephen Colbert (literally) dance.

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Keith Olbermann! Come on down! You're the next TV celebrity whose death has been falsely reported on the Internet!

The MSNBC Countdown's Wikipedia page reported he had died earlier this morning, possibly due to complications from celiac disease.

I sent emails to two networks officials to confirm this jarring claim. Jeremy Gaines, MSNBC's vice president of communications, responded that he is certain the entry is a "hoax" and that he and other network officials were working to correct it. The section on Olbermann's death has since been removed from the page.

Papa Bear bless the No Fact Zone for pointing out this gem, just as Colbert Report fans prepared for yet another week of reruns and the accompanying nights of non-stop sobbing. Those tired of trying to scour the Comedy Central website for specific clips of the show can now visit this handy page of what looks like all the Colbert Report episodes online. My goodness, it's like the greatest satire-related September Christmas ever.