The New York Times reports on the formation of a new company, Bat Boy L.L.C., which is reviving the offbeat tabloid Weekly World News as a web site. Founder Neil McGinness ran the entertainment and comedy division at IMG Media, was an executive at National Lampoon and handled marketing at Broadway Video, founded by Lorne Michaels, the producer of "Saturday Night Live." Mr. McGinness plans to sell advertising online, license characters featured in the News -- he is talking to toy companies -- and develop movie deals based on the publication's content. Recent stories from the revamped web site are more satirical than in The News of days gone by, which presented its subjects seriously. There are articles about Sarah Palin's having posed with an alien beer, the world's fattest cat competing on NBC's "The Biggest Loser" and the cause of Madonna's divorce: that Alex Rodriguez is her son.