“Congratulations on that Peabody!”: CBS cancels 60 Minutes II

CBS chairman Les Moonves annnounced that the network has axed 60 Minutes II, apparently due to ratings, not Rathergate. Apparently, running opposite the “Lost” juggernaut on ABC hasn’t exactly been a ratings boon. Also, 60 Minutes II has an older demographic, and advertisers hate old people. Dan Rather will hop to Sunday as a contributor, no fancy title as of yet. Ouch.

CBS Cancels Wednesday ’60 Minutes’ [AP via ABC via HuffPo]