Mediagazer: The Twitter Story Fail (Michael Arrington/TechCrunch)

Bill Reader / E.W. Scripps School of Journalism:

TBD is CTD: The fast rise and fall of a CJ startup — Just six months after it launched to much fanfare, the Washington, D.C., area community journalism site TBD.com (short for, it is suggested, “To Be Determined") is CTD (short for “circling the drain"). Some suggest it was too ambitious …

Discussion: Poynter

Steve Buttry / The Buttry Diary:

TBD made has made mistakes, but we understand our community(ies) — It is against my nature to hold my tongue. Or my keyboard. — I have refrained from saying much publicly about the recent cutbacks at TBD because ... well, because. The reasons are complicated and I still work here.

Lacey Rose / Hollywood Reporter:

CEO Tim Armstrong, Arianna Huffington Reveal AOL's Ambitious Hollywood Strategy … The following story appears in the upcoming issue of The Hollywood Reporter magazine on newsstands Thursday. — On the set of a photo shoot at a Los Angeles studio, AOL CEO Tim Armstrong settles into salesman mode …

Discussion: GigaOM and Company Town

Nicholas Carlson / SAI:

How AOL's Patch Can Win And Prove Us Wrong When We Say It's A Horrible, Doomed Idea — AOL CEO Tim Armstrong's whole turnaround plan is to take cash flow from the company's dying subscriber business, and make big bets on content businesses. — As a framework, this is a good plan.

David Kaplan / paidContent:

Plum TV's Lehman Named NBCU's President, Digital Networks — Nicholas Lehman, formerly CEO of lifestyle Plum TV, has joined NBC Universal (NSDQ: CMCSA) as president of Digital for NBCUniversal's Entertainment & Digital Networks and Integrated Media division (E&DN/IM).

Discussion: MediaMemo

Discussion: Broadcasting & Cable

Michael Arrington / TechCrunch:

The Twitter Story Fail — It's amazing to me how wrong The Financial Times, The Wall Street Journal and The New York Times were on their Twitter fundraising stories last week. All claimed multiple independent sources, but everyone got the story wrong in the same way.

Discussion: Reuters, Fortune, New York Magazine, L.A. Times Tech Blog, The Tech Trade, Post Tech and Best of the Wire, more at Techmeme »

Megan Garber / Nieman Journalism Lab:

Baseless speculation! Frank Rich and the price of paywalls for writers — Jack Shafer summed up Frank Rich's upcoming move from The New York Times to New York magazine like so: “Unless the deal came with Bloombergian bags of cash, it makes no sense.” — True.

Discussion: The Huffington Post, Future of Journalism, Scocca and MediaPost

Journalism.org:

BLOGGERS TAKE SIDES IN THE WISCONSIN STANDOFF — For the second straight week, social and mainstream media shared similar news agendas as the labor stalemate in Wisconsin and the violent unrest in Libya garnered the most attention. But while the traditional press focused more on the events …

Discussion: Poynter and WebNewser

Joe Pompeo / Yahoo! News:

Gawker Media traffic down 25 percent since redesign — A few weeks ago, Gawker Media disputed reports that its traffic had plummeted due to the redesign recently implemented across its blog network. And Gawker boss Nick Denton had even recently made a cash bet that the relaunch wouldn't cost him page views.

Discussion: paidContent, The Wrap, Soup and The Wire

Joe Pompeo / Yahoo! News:

Newsweek's 'not your Grandpa Jon's magazine anymore' — Tina Brown has been shopping her redesigned Newsweek prototype to advertisers for weeks. But on Wednesday, the rank-and-file workers at Brown's recently integrated Newsweek-Daily Beast operation finally got a peek.

Discussion: Folio, Runnin' Scared, Media Buyer Planner, On Media's Blog and FishbowlNY

Lauren Indvik / Mashable!:

5 Fresh Digital Media Trends to Watch — The Modern Media Agency Series is supported by IDG. The line is fading between social media and traditional media. IDG's Matt Yorke talks about the rise of social and how IDG helps marketers create social campaigns. Read more.

TMZ.com:

Charlie Sheen: I Twitter for Cash! — Featured Blogs — Celebritology- Drudge Report- Essence- Evil Beet Gossip- Hollyscoop- I'm Not Obsessed- Perez Hilton- TooFab- Why Fame- WWTDD — Megan Fox Net Curtain Fetish Porn for Armani — Was Christina Aguilera's Mug Shot Photo Stolen?

Discussion: The Wire, Mediaite, Dealbreaker and AdFreak

MediaShift Idea Lab:

Kachingle is Overrated, So Let's Stop Writing About It — As someone developing a new online ad platform for newspapers and magazines (NowSpots), I read a lot of news about the news industry. Waking up and reading the latest industry headlines on MediaGazer is always a highlight of my morning …

Discussion: Mashable!

Leena Rao / TechCrunch:

Demand Media Buys Liveblogging Tool CoverItLive — On the heels of its entry to the public market, content farm Demand Media has just acquired CoverItLive, a liveblogging tool. Financial terms of the deal were not disclosed. — CoverItLive provides an extensive tool one can use …

Discussion: Investor Relations, The Charlotte Observer, VentureBeat, GigaOM, Time and paidContent