Mediagazer: Hearst buys Lagardare's international titles for $919.4M (Keith J. Kelly/New York Post)

4:05 PM ET, May 31, 2011

Top News:

Nat Ives / AdAge:

Jann Wenner: Magazines' Rush to iPad Is ‘Sheer Insanity and Insecurity and Fear’ — Successful Migration to Tablet Editions Will Take ‘Decades,’ Rolling Stone Co-Founder Says in Interview — Nobody mistakes Jann Wenner — whose Wenner Media publishes Rolling Stone, Us Weekly and Men's Journal — for a digital fanboy.

Discussion: AppleInsider, Techland, MediaPost, Electronista, Gizmodo, Fortune, FishbowlNY, Noted, NetNewsCheck Latest, FT Tech Hub, Rex Hammock's RexBlog.com, Future Journalism Project, Common Sense Journalism, Poynter and AllThingsD

Jeff Bercovici / Mixed Media:

Jann Wenner Is Wrong Again, This Time About Tablets — Jann Wenner. Image by Getty Images via @daylife — Jann Wenner, the founder and owner of Rolling Stone and Us Weekly, thinks it will be “a generation at least, maybe two generations” before readers switch en masse from printed magazines to tablet computers like the iPad.

Thanks:laureni

Mallary Jean Tenore / Poynter:

5 small steps journalists can take to build a bigger, more engaged audience — Traffic on news sites isn't just about page views and unique visits; it's about people. To build an audience, you have to engage with your site's users and develop strategies to help you maintain your current audience …

Discussion: Future of Journalism

Russell Adams / Wall Street Journal:

New Business Model in Vogue at Condé Nast — Condé Nast—the glitzy magazine empire that was brought to its knees by the advertising recession—is grappling with the fundamental challenge also facing many of its peers: how to preserve its print business while it also tries …

Discussion: @iwantmedia, @editorialiste, The Wire and NYConvergence.com

Parmy Olson / Disruptors:

Interview With PBS Hackers: We Did It For ‘Lulz And Justice’ — The deface page posted on the PBS website by small hacking group LulzSec. — Ever wonder why black hat hackers and cyber vigilantes risk prison terms to do what they do? The group of four people who hacked the PBS NewsHour website …

Discussion: TVWeek.com, TechFlash, http://www.Stinkyjournalism …, Eurogamer, ZDNet and L.A. Times Tech Blog, more at Techmeme »

Kevin Poulsen / Threat Level:

Hacktivists Scorch PBS in Retaliation for WikiLeaks Documentary — Hackers posted a fake news story to the website of PBS's Newshour on Sunday. — A hacker group unhappy with PBS Frontline's hour-long documentary on WikiLeaks has hit back at the Public Broadcasting System by cracking its servers …

Brian Steinberg / AdAge:

News Corp.'s Hulu Hope: To Add More Commercials — Plan Is to Beef Up Inventory so Fox Can Sell Advertisers Richer Cross-platform Deals — Coming soon to Hulu: More ads? — As it negotiates its next contract with Hulu, News Corp. is pushing for the ability to run a greater number of ads …

Discussion: rbr.com, MediaPost, Media Buyer Planner and Mashable!

Dawn C. Chmielewski / Los Angeles Times:

YouTube counting on former Netflix exec to help it turn a profit — Robert Kyncl negotiated the deals that gave Netflix subscribers access to thousands of movies and television shows. Now he's hoping to repeat that feat as head of TV and film for Google and YouTube.

Discussion: The Wire and Company Town

Joe Pompeo / Yahoo! News:

Recently acquired Felix Dennis mag Mental Floss taps Playboy, Maxim vet James Kaminsky as editor — If a well-traveled captain is what it takes to steer a magazine out of relative obscurity, Mental Floss may soon find itself sailing into breezier seas. — The magazine—a bi-monthly compendium …

Discussion: FishbowlNY

Keith J. Kelly / New York Post:

Hearst buys Lagardare's international titles for $919.4M — The ink will soon dry on the biggest magazine deal of the year — at least a month ahead of schedule, sources said. — Hearst's nearly $1 billion purchase of the international magazine empire of the Lagardere Group is going to close today, sources said.

Discussion: Folio

Peter Kafka / AllThingsD:

Metamarkets Raises $6 Million To Help Big Web Publishers Corral Big Data — Big web publishers sell lots and lots of ads, and that generates lots and lots of data. It'd be pretty useful to keep track of all that information. — That's the basic premise behind Metamarkets, a 2-year old startup that just raised another $6 million.

Katie Feola / Adweek:

Heir to the Times' Throne? — If The New York Times' new paywall does somehow end up being the success the paper sorely needs, one man may benefit most of all: David Perpich, the Ochs-Sulzberger heir you've never heard of, the man who, if the paywall works, will look very much like his family's best hope.

Discussion: NetNewsCheck Latest

Staci D. Kramer / paidContent:

NYT Discounts iPad Access By 80 Percent For Lincoln Subs — The New York Times Co. (NYSE: NYT) is pulling out the stops to build a base during the first year of its digital subscriptions. The latest: supplementing a marketing deal with Lincoln for free access to NYTimes.com and smartphones …

Discussion: NetNewsCheck Latest

Adweek:

First Mover: Edward Schumacher-Matos — Adweek: You have quite a last name. — Edward Schumacher-Matos: It's a mouthful, I know. I was born in Colombia and I came to this country when I was young. — AW: Being an ombudsman puts you in the unique position of being paid to critique your employer.