Update: 5 pm EST: Looks like the project won't happen after all according Nikki Finke (via TV Newser's Alex Weprin) who quotes an HBO exec saying: "We recently decided not to pursue the Ailes project. It had become clear to us before even receiving a script that due to our company’s CNN affiliation the film could never be seen as objective." Somehow we think there's more that will come out on this.

Original: The incestuous cable television news for the day is that HBO is developing a project about Fox News chief Roger Ailes based on an as-of-yet unwritten book by New York's Gabriel Sherman, and it's to be produced by none other than MSNBC's Mika Brzezinski and Joe Scarborough. So... that's a lot of cable channels involved in one project. 

HBO's move isn't particularly out of character, Deadline Hollywood's Nikki Finke notes in her scoop: The premium cable network often snap up rights to unpublished books they think might make for good movies, and there's no gaurantee they'll actually make anything based on Sherman's still untitled book. But Sherman's blockbuster New York Magazine profile of Ailes and his ongoing Fox News news have certainly been quite readable, suggesting there might be a good narrative there.

What's mildly more juicy to media-watchers is that Brzezinski and Scarborough are trying their hands at producing on a film that's almost certainly not going flatter Fox News. But then, they've never particularly gone soft on their 24-hour news competitor, nor has Fox News gone soft on them. So, happy writing, Gabriel Sherman. Apparently quite a few television networks are waiting to read your book.