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7:40 PM ET, May 2, 2012


 Top News: 
Mike Giglio / The Daily Beast:
Tom Watson Fires Back at Criticism of Murdoch Report  —  MP Tom Watson has taken flak for a ‘partisan’ report calling Murdoch unfit to run News Corp. Now, Murdoch's ‘tormentor-in-chief’ tells Mike Giglio that it's not about politics.  —  Tom Watson, the hard-charging Labour MP …
Discussion: Guardian and Guardian
Ryan Chittum / CJR:
The coverup culture of News Corp.  —  A damning report from Parliament and Rupert Murdoch's revealing response to it  —  When a committee of Parliament condemned Rupert Murdoch today as “not a fit person to exercise the stewardship of a major international company,” it was a statement as obvious as it was astonishing.
Lisa O'Carroll / Guardian:
Leveson: second inquiry may not happen
Josh Smith / Tech Daily Dose:
Rockefeller Asks For News Corp. Scandal Details
Rupert Murdoch's Fox broadcast licences targeted by US ethics group
Robert Andrews / paidContent:
BSkyB buys Acetrax to be its connected TV Trojan Horse  —  While pundits prefer to focus on phone hacking, News Corp's part-owned UK pay-TV operator BSkyB is buying further in to internet TV.  —  Last Wednesday, the operator quietly acquired Acetrax, a service that offers on-demand paid movie rental …
Discussion: Pocket-lint and Guardian
Mark Sweney / Guardian:
BSkyB posts profit of almost £1bn
Paul Sawers / The Next Web:
Sky News is available from today in the US & Canada for the first time, via Livestation
Discussion: Sky News and Beet.TV
Kate Holton / Reuters:   BSkyB uses record results to defend role in Britain
Kat Stoeffel / The New York Observer:
‘Fox Mole’ Joe Muto Shops Memoir  —  Can't say no one saw this coming: Gawker's Fox News informant, Joe Muto, is taking meetings with publishers this week for a proposed book about his eight years inside the cable news network, tentatively titled An Atheist in the Foxhole.
Discussion: TVNewser, Mediaite and FishbowlNY
Joe Pompeo / Capital New York:
‘Daily News’ hires Ted Young, former editor of Mail Online, to edit its website  —  The Daily News has named a new web editor about a week after the resignation of its outgoing digital chief, Scott Cohen.  And News editor-in-chief Colin Myler has dipped into the British tabloid talent pool …
Discussion: FishbowlNY
Peter Kafka / AllThingsD:
Time Inc. Shrinking Again  —  Not a good sign for the magazine business: A rough quarter for Time Inc., the world's biggest magazine publisher.  —  Revenues dropped 3 percent for the first three months of the year, while operating income shrank by 38 percent.
Frederic Lardinois / TechCrunch:
Tumblr Finally Wants To Make Some Money, Launches Its First Ads  —  Tumblr, the immensely popular but profitless blogging platform, just turned on its first set of paid “sponsor products” (Tumblr doesn't like to call them “ads").  Even though the company resisted running ads on its network for a long time …
Keach Hagey / Wall Street Journal:
CNN Feels Heat on Ratings Weakness  —  The last time there was a presidential election, CNN made television history by beating every other network in the ratings on election night.  —  It is shaping up to be a different story this year.  CNN's two main rivals Fox News and MSNBC have gained viewers …
Peter Kafka / AllThingsD:
Amazon Gets Into the Sitcom Business  —  Amazon has been stocking up its Web-video offering with lots of old TV shows.  Now it's going to start making some of its own.  —  The company is pulling back the covers (a bit) on its plans to produce kids' shows and sitcoms via its “Amazon Studios” …
Alex Weprin / TVNewser:
Big Win For Bloomberg TV: FCC Rules In Its Favor In Comcast Dispute  —  Breaking: Comcast subscribers should expect to see Bloomberg TV next to Fox News, CNN and CNBC in the coming weeks.  —  The FCC has found in Bloomberg's favor in its long-running complaint with Comcast.
Erik Wemple:
Politico defends ‘New York girlfriend’ post  —  Above is a screen-shot of earlier today, linking to a story about President Obama's past.  Pretty exciting stuff: “Obama Admits Fabricating Girlfriend in Memoir.”  —  Those who jumped on that link reached a Politico story with this headline …
Jeff John Roberts / paidContent:
Judge stays e-book class action case against two publishers  —  Publishers Hachette and HarperCollins slipped further away from the class action lawyer who wants them to pay over an alleged e-book price-fixing conspiracy.  —  In an order signed yesterday in New York federal court …
Steve Myers / Poynter:
Hipstamatic to release ‘Ben Lowy lens’ with minimal image processing  —  Conflict photographer Ben Lowy has championed the use of image-filtering smartphone apps such as Hipstamatic and Instagram, and now the company plans to release a new lens under his name.
Discussion: Lens
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 More News: 
Leena Rao / TechCrunch:
Next-Generation Publishing Platform Hyperink Wants To Transform Blogs Into Books
Discussion: Forbes, PandoDaily and VatorNews
Andrew Beaujon / Poynter:
Washington Post's Sunday circulation drop not as steep as it appears
Rasmus Kleis Nielsen / MediaFile:
The irrational imitation of the online news industry
 Earlier Picks: 
Ben Sisario / New York Times:
A Radio Merger in New York Reflects a Shifting Industry
Discussion: The Maynard Institute
John Koblin / Deadspin:
Is An ESPN Columnist Scamming People On The Internet? [UPDATE]