Silence can be a very valuable commodity:

The New York Post is cooperating with a federal investigation into whether a longtime contributor for the Page Six gossip column — the avidly read daily log of wrongdoing, double-dealing and sexual indiscretions by celebrities both minor and major — tried to extort money from a California billionaire, according to a spokesman for the newspaper.

Several people involved in the investigation said the reporter, Jared Paul Stern, had been captured on a video recording demanding a $100,000 payment and a monthly stipend of $10,000 from Ronald W. Burkle in return for keeping negative information about him out of the paper. Mr. Stern was suspended Thursday pending the outcome of the investigation, and could be dismissed, according to Howard Rubenstein, the spokesman.

"We know how to destroy people," Mr. Stern said, according to a person reading a transcript of the meeting. "It's what we do. We do it without creating liability. That's our specialty."

MORE: My sarcasm aside, Jeff Jarvis takes a seriously look at the above, and sees it as evidence of "the last growl of the unbridled power of the press." (Via Ed Driscoll.)

It is the last growl, of course. Pretty soon the silence of the press will be of no more value than its noise.

Plus it'd be pure hell to have to pay the blogosphere not to blog about something.

Try to imagine the cost!