This is the second time the Commander-in-Chief topped the coveted list.
Check out why we're having muffins with our brew:
• President Obama has been named TIME magazine's 2012 "Person of the Year." Other honorees include the Clintons and Pakistani teenager Malala Yousafzai, who was tragically shot in the head for promoting education for girls. Obama was previously TIME's "Person of the Year" in 2008. [Grio]
• Conrad Murray is looking to get out of the big house immediately. The former doctor filed a get-out-jail petition while he's appealing his current conviction. Murray says he's not a flight risk and doesn't pose a threat to the community. This is Murray's second attempt at getting out of jail. [TMZ]
• Rihanna is the proud owner of a $12 million mansion. The pop-star signed on the dotted line recently, according to Extra. The 11,000-square feet. Pacific Palisades home boasts nine bathrooms, 14-foot ceilings, a hot tub, swimming pool and a huge garden. [Extra TV]
• Former X Factor judge L.A. Reid will be honored at Clive Davis's upcoming pre-Grammy gala in February. He will receive the President's Merit Award for his contributions to the music industry. Previous recipients include Berry Gordy and Sir Richard Branson. [Hollywood Reporter]
• HBO's turning to Broadway for its next show. The network will adapt Alicia Keys's Stick Fly for an hourlong drama. Playwright Lydia Diamond will write the screenplay and executive produce it alongside Keys and Nelle Nugent. There's no word on when production will begin. [Hollywood Reporter]