I read this about Delta dropping out from advertising on The Daily Show because of an offensive "vagina manger" skit.
The skit may have been over the line and I do agree that if they had tried to place an image of Muhammad in place of the manger - then it would have been censored - but I think the reason Delta decided to stop advertising on the show is more simple. The target audience of The Daily Show is not really the target audience for Delta. How many college students or slackers buy airline tickets? Not many. This viewpoint also explains why Kellogg's isn't dropping their advertising over the "vagina manger". What percentage of The Daily Show's audience buy boxes of cereal? Pretty much all of them.
I'm guessing that The Daily Show isn't too worked up abut losing Delta Airlines - Ramen Noodles has probably been waiting in line for some time.