Mediagazer: Big Media Thinks Its Future Is in Your Phone (Peter Kafka/AllThingsD)

5:35 PM ET, July 12, 2011

Top News:

News Corp.'s Lost $7B Shows Investor Concern — News Corp. (NWSA)'s loss of $7 billion in market value over four trading days shows investor concerns that a probe into alleged phone hacking by journalists at one London newspaper could have a broader impact on the company.

Discussion: New York Times, Gawker, Splice Today, The Huffington Post, Los Angeles Times, mediabistro.com, Gothamist, Company Town, FishbowlNY, Forbes.com, Bloomberg, The Wire and Future of Journalism

David Cay Johnston / Reuters:

RPT-COLUMN-It pays to be Murdoch. Just ask US gov't: DCJohnston — David Cay Johnston is a Reuters columnist. The opinions expressed here are his own. — (Reuters) - Rupert Murdoch may not garner as much attention for his financial savvy as he does for his journalistic escapades …

Discussion: Future Journalism Project, Guardian and Media Matters for America

Roger Cohen / New York Times:

In Defense of Murdoch — NEW YORK — Fair warning: This column is a defense of Rupert Murdoch. If you add everything up, he's been good for newspapers over the past several decades, keeping them alive and vigorous and noisy and relevant. Without him, the British newspaper industry might have disappeared entirely.

Discussion: Media Research Center and Mediaite

Dan Sabbagh / Guardian:

Rupert Murdoch's BSkyB bid is slipping with David Cameron's U-turn — The PM's remarkable decision to follow Ed Miliband's opposition day motion could signal sea change for Murdoch's UK plans — It has taken David Cameron to do what Jeremy Hunt couldn't or wouldn't.

Discussion: Adweek, MediaPost, Economist, Paul Krugman, The Wrap and AdAge

Lucas Shaw / The Wrap:
WSJ Ex-Editor on Scandal: News Corp. ‘Incompetent or Complicit’ (Exclusive)

Discussion: Media Matters for America

New York Times:
News Corporation Moves to Delay BSkyB Deal to Avoid Its Collapse

Discussion: NPR, Poynter, New York Magazine and DealBook

Aaron Elstein / Crain's New York Business:
News Corp.'s board knows something about hacks

Discussion: Guardian, Reuters, The New York Observer, Adweek, The New Yorker Blog, AdAge and paidContent

Simon Dumenco / AdAge:

Thanks for the Apology, Huffington Post. Now Please Apologize to the Writer You Suspended — An Open Letter From Our Media Guy to Peter S. Goodman … Dear Peter, — My sincere thanks to you for your gracious apology. Your incredibly swift response to my column was heartening.

Discussion: Poynter, Future Journalism Project, The Huffington Post, The Daily Caller and New York Magazine

Yahoo! News:

HuffPo controversy highlights cavalier online editorial culture — What began presumably as an innocent post by a cub reporter has ballooned into one of this week's media controversies. Here's the basic time line of events: A young and green Huffington Post journalist named Amy Lee borrowed quite liberally …

Ryan Tate / Gawker:
HuffPo Fires Writer for Doing ‘What We Were Taught and Told to Do’

Discussion: CJR, Erik Wemple, AdAge, Erik Wemple, Poynter, Fortune, Editors Weblog, Future of Journalism, The Informer, Adweek, The Wire, AllThingsD and Poynter

Aaron Gell / The New York Observer:

Exclusive: Bin Laden Hunter ‘CIA John’ Identified — The Man in the Yellow Tie, with Clinton and Panetta, and in a college yearbook photo. — Anyone who's ever logged in to a social network while in a jubilant, possibly intoxicated, frame of mind knows the dangers.

Discussion: News Desk and Guardian

Jana Winter / Fox News: Gawker Tries to Reveal Identity of CIA Agent Behind Bin Laden Kill

Andy Plesser / Beet.TV:

Reuters' Digital News Chief: “This is the Most Amazing Story Around” — The appointment of Anthony De Rosa, a product manager at Reuters who quickly became the company's Social Media editor, is “the most amazing (journalism) story around,” says Jim Impoco, Executive Editor, Thomson Reuters Digital, in this inteview with Beet.TV

Discussion: The Huffington Post

Jeff Sonderman / Poynter:

Journalism students must bridge 'digital divide 2.0′ to become less old-school — Assistant professors Alexa Capeloto and Devin Harner say young journalism students “know how to act the part of digital natives,” but “they're inclined to see the Internet as a tool for entertainment and socializing …

Discussion: USA Today and MediaShift

New York Post:

Kutcher's son of Sun Valley — Ashton Kutcher created his own Sun Valley-like conference for cool kids after the older moguls headed home. — The “Two and a Half Men” star has been bolstering his rep as a tech entrepreneur by investing in a host of start-up companies through a partnership …

Discussion: Gawker and Betabeat

Chris Ariens / FishbowlNY:

Lance Ulanoff Leaving PCMag.com, Dan Costa Upped to Editor-in-Chief — After 16 years with the PCMag — first in print and later solely online — Lance Ulanoff (left) is leaving the Ziff Davis brand for “other interests.” — Dan Costa, who has been Executive Editor of PCMag.com …

Discussion: Folio and PC Magazine

Alysia Santo / CJR:

Q&A: Luke Stangel, Co-Creator of TapIn Bay Area — “Mobile could make us focus again on what we do really well as reporters.” … You quit your job to start Tackable, a social networking company, with Ed Lucero, a tech startup veteran. Where did the original idea for a location-aware social network come from?

Discussion: Newsonomics and FishbowlLA

Guardian:

Johann Hari suspended from the Independent following plagiarism row — Interviewer and columnist has been suspended for two months pending outcome of internal investigation — Johann Hari, the Independent interviewer and columnist accused of plagiarism, has been suspended for two months pending …

Discussion: The Huffington Post and blogs.telegraph.co.uk

Peter Kafka / AllThingsD:

Big Media Thinks Its Future Is in Your Phone — Big media companies have never been comfortable with the Web: It's sprawling, messy, hard to corral and even harder to turn into a profit center. — But many of those same companies tend be much more optimistic about smartphones …

Discussion: NetNewsCheck Latest, Thanks:mikepilarz

Ingrid Lunden / paidContent:UK:

Publisher Penguin Waddles Into Social Media Experiment With Peer Index — A little social media experiment is underway at the publishers Hamish Hamilton/Penguin UK: the publisher has tied up with the social media site PeerIndex to try out a new way of promoting its books.

Discussion: GalleyCat, The New York Observer and Forbes.com