I understand they considered benching Wolf because Julius Peppers was hitting him so hard

How will civilization survive without an additional hour of Wolf Blitzer's stunning lack of wit or charisma?

CNN will be changing things up on January 18th, when Rick Sanchez will get a second hour, anchoring a new show called "Rick's List" from 3-5PM. He currently anchors the 3PM hour but the hour is not branded as his show.

"The Situation Room" will be cut back an hour, and will air from 5-7PM.

Politico's Michael Calderone reports that "CNN president Jon Klein, on the morning editorial call, told staffers that both Wolf Blitzer and Sanchez are pleased with the decision."

Of course in his own mind, Wolf is pleased. Being on TV for an hour less, means he has '40 minutes' less work to do.