Roger L. Simon and Charles Johnson have relented and given the name back to Christopher Lydon. Their note about it makes them sound unserious and like they don't know what they're doing. It also contradicts all of their previous notes on the subject (all of the stuff about how Lydon "relinquished" the name or "graciously agreed" to give it to them). In addition going back to the Pajams Media name now contradicts all the rhetoric about how Pajamas Media was an unserious name and how moving away from it was a recognition of growing up and that the blogosphere needs to learn to build things instead of just criticizing (hence the move from a Rathergate reference). It still makes the company look like it's run by amateurs, but at least they've given the name back to its rightful owners. In a way they should be grateful that the name problem has been forcibly solved for them. Now they just need to solve the problem of figuring out what they are and finding interesting content for their website.
UPDATE: Utterly essential (and hilarious) Dennis the Peasant reaction is up.
UPDATE: And Althouse. I agree with commenter Benjamin at Jeff Jarvis's that the marketing people were right and Pajamas Media is a bad name. (My problem with it being that it relates to an extremely inside baseball joke that can only be appreciated by blog geeks). The problem wasn't changing the name, but changing it to Open Source Media, which goes too far in the other direction, sounding too dull and corporate. And it was already in use to begin with. I'm not saying I can come up with a better name. Names are hard. Even if I could think of one I wouldn't post it for fear of somebody using it.