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4:55 PM ET, October 24, 2012


 Top News: 
Joe Pompeo / Capital New York:
Barry Diller: ‘Newsweek’ cuts to be as ‘spare’ as possible  —  Barry Diller and Tina Brown: all bold plunges and ‘mistakes.’  —  On this morning's IAC third-quarter earnings call, company chairman Barry Diller addressed last week's bombshell news that Newsweek will eliminate its print edition starting in 2013.
Discussion: Folio, The Wrap and NetNewsCheck Latest
Brent Lang / The Wrap:
IAC Quarterly Earnings Reveals Why Newsweek is Ending Print Run  —  IAC/InterActiveCorp, the media conglomerate behind web properties like and, bested Wall Street's expectations Wednesday, as operating profits and revenue jumped during its most recent fiscal quarter.
Discussion: Forbes and Vanity Fair
Ryan Chittum / CJR:
Newsweek and the (relative) health of print mags  —  News that Newsweek is exiting print was hardly surprising coming two years after the Washington Post Company unloaded it for a dollar.  —  But these numbers struck me while reading this Financial Times story on the news:
Jim Romenesko:
New York Times union sends another letter to publisher Arthur Sulzberger  —  A letter that New York Times union members will be delivering tonight to publisher Arthur Sulzberger says “the company's negotiating goal of sub-inflation raises would perpetuate an era of shrinking compensation” and “would have a withering effect on morale.”
Jim Romenesko:
New York Times union members use Twitter to ‘engage the public’ in contract battle  —  The Newspaper Guild of New York is encouraging members at the New York Times to use Twitter today “to get our message out to the world.”  —  The union, which is in contract talks with Times management, tells members:
Discussion: NetNewsCheck Latest
Joe Pompeo / Capital New York:
‘Times’ union stages ‘informational’ picket as incoming C.E.O. comes under scrutiny
Roy Greenslade / Guardian:
Piers Morgan, the ex-editor who once enjoyed talking about hacking  —  In the light of the civil claims against Trinity Mirror over alleged phone hacking, it is pertinent to revisit the various boasts made by the former Daily Mirror editor, Piers Morgan, about his knowledge of voicemail interceptions.
Cahal Milmo / The Independent:
CNN increasingly twitchy over Piers Morgan's tabloid past as phone hacking scandal spreads to Daily Mirror
Discussion: Business Insider, Reuters and CNN
New York Times:
Mark Thompson Says He Did Not Block BBC Savile Program  —  Mark Thompson, the former head of the British Broadcasting Corporation who has been drawn into the scandal involving allegations of sexual abuse against the former television personality Jimmy Savile, reiterated in an interview …
Kate Holton / Reuters:   Thompson says he has NYT's support after BBC scandal
Emil Protalinski / The Next Web: shuts down iOS apps to focus on Digg, blames new Twitter requirements  —, the social news service built on top of Twitter (and Facebook), today announced it is killing its curation apps for iPhone and iPad.  The company is blaming Twitter for the move and says it wants to focus on its Digg efforts instead.
Charlie Warzel / Adweek:
MIT Technology Review Relaunches ‘Digital-First’  —  Some 20 weeks before Newsweek set the media into a frenzy with its announcement of a digital-first publishing strategy, Jason Pontin was already grappling with how to move his 113-year-old publication toward a digital future.
Discussion: NetNewsCheck Latest, Thanks:@cwarzel
Erik Wemple / Washington Post:
Obama campaign and Des Moines Register: A form of quote approval  —  The media news burst of the morning springs from the Web site of the Des Moines Register.  The Obama campaign, without comment, released a transcript of an extensive discussion that it held yesterday with Laura Hollingsworth …
Discussion: Mediaite and Politico
Netflix shares drop after it cuts subscriber forecast  —  (Reuters) - Netflix Inc added fewer U.S. customers than Wall Street expected in the third quarter, forcing the company to roll back its year-end subscriber forecast and sending shares plunging 15 percent.
Discussion: AllThingsD
Katherine Rushton / Telegraph:
Guardian moves towards compulsory job cuts  —  The publisher of The Guardian and The Observer has proposed making large-scale compulsory job cuts among its newspaper journalists.  —  The Guardian and Observer publisher has spent the last few years battling to stem losses of £44m a year.
Ecuador concerned for health of Julian Assange  —  Ecuador is worried about the health of WikiLeaks founder Julian Assange and has asked Britain to guarantee him safe passage from its London embassy to hospital if he needs medical treatment, a senior Ecuadorean diplomat said in Moscow.
Discussion: Betabeat
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 More News: 
Paul Sawers / The Next Web:
Audioboo founder Mark Rock makes way for a new CEO, as the social audio platform passes 1 million ‘Boos’
Chris Roush / Talking Biz News:
Another longtime biz journalist leaves Reuters
Dylan Byers / Politico:
Exclusive: Fast and Furious whistleblower sues Time Inc. for libel
Paul Sawers / The Next Web:
GNM taps Rightster to launch Guardian Select Video, a syndication portal to monetize digital video
 Earlier Picks: 
Erik Gruenwedel / Home Media Magazine:
The Mystery Surrounding Declining Hulu Viewership
Jennifer Van Grove / VentureBeat:
Sexed-up goes live for all
Discussion: WebProNews and AllThingsD
Laura Hazard Owen / paidContent:
Pew surveys young Americans on e-reading, but the data is old
Robert Feder / Time Out Chicago:
Editor Elder quits DNAInfo Chicago on eve of launch
Discussion: Street Fight