UPDATE: *A day after my original posting, the Los Angeles Times internal memo making the announcement finally went out today.* It’s not been announced yet, but I’m told the Los Angeles Times did select its replacement for Amy Wallace, the talented Deputy Business Editor in charge of entertainment/Big Media/technology industry coverage who jumped to Conde Nast’s just started Portfolio biz magazine. Drumroll, please: It’s Sallie Hofmeister, the paper’s long-time business reporter who’s had her share of TV, cable and satellite industry scoops over the years. Actually, I’m told she’s been doing the job since mid-July. So why no announcement? She became an assistant business editor in April, and before joining the LAT, was an editor at The New York Times, “where she improved the copy of a host of reporters including some guy named Baquet,” said today’s memo from Business Editor Russ Stanton. Before that, she was a staff writer at Venture magazine and a 1980 graduate of Kansas State University. (No “Toto, we’re not in Kansas anymore” jokes, puh-leeze!) And since memos like this are not complete with some huh? comment, Stanton adds that her attributes “are exceeded only by her arsenal of fashionable glasses and spiffy shoes.” OK, Hollywood, the sucking-up starts now!