Required Reading: All you need to know about retrans; and more in this weekend's Weekly Variety

:: CYNTHIA LITTLETON REPORTS ON WHAT all these retransmission deals between stations and cable operators might mean for Hollywood. (One word: Ka-CHING.)

She writes: There's a gold rush afoot that promises to reach into every corner of the television biz, from local broadcasters, cable and satellite TV operators to the Big Four networks and Hollywood's creative community.At a time when the nets and their local affiliate stations are facing rising costs, declining viewership and plummeting ad rates, they're suddenly eyeing a possible $1 billion-$2 billion windfall over the next few years.

Read more here.

:: SPEAKING OF RETRANS, PETER CARANICAS also jumps into the topic, noting that over-the-air broadcast viewing could make a comeback if stations and cable operators have a falling out. More here.

:: JON WEISMAN ASKS THE QUESTION, "What happens to those 'Glee' kids once they graduate from high school?" Or will they go to high school?

From "Beverly Hills 90210" to "Friday Night Lights," Jon gets some answers here.

:: MICHAEL SCHNEIDER LOOKS AT all of the familiar ex-network and studio names now attached to pilots as producers. It's been a good year for folks like Jamie Tarses, Sarah Timberman, Eric Tannenbaum, Gail Berman, Lloyd Braun, David Nevins and Peter Johnson. Apparently there is life after the boardroom. More here.

:: ALSO, Peter Caranicas asks is Sezmi is the new cable killer. And Michael Schneider sums up the spoiler frustration for West Coast Olympics viewers.