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5:35 PM ET, July 13, 2011

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BBC:
News Corp withdraws bid for BSkyB  —  WATCH: Robert Peston says it will have been ‘incredibly painful’ decision for Murdoch  —  Rupert Murdoch's News Corporation has announced that it is dropping its planned bid to take full ownership of BSkyB.  —  The announcement came as the House …
Hollywood Reporter:
Confessions of a News of the World Reporter (Exclusive) … My first assignment was cake.  I tagged along with a features reporter to interview Baywatch actress Traci Bingham because she was on the U.K.'s Celebrity Big Brother (or Big Bruv, as they call it) that season.  Nothing unusual.
Discussion: The Wire
Ingrid Lunden / paidContent:
James Murdoch To Stay On As BSkyB Chair After News Corp Abandons Bid  —  News Corp today walked away from its bid to buy out all shares in UK broadcaster BSkyB (NYSE: BSY), but one of its most senior executives will continue to have a role there.  Sources at BSkyB say that James Murdoch …
Larry Kramer / paidContent:
NoTW Lesson: The Coverup Is Usually More Damaging Than The Original Crime
Gabriel Sherman / New York Magazine:
In the Murdoch Hacking Scandal, Roger Ailes Stands to Gain
Discussion: TVNewser
Alexandra Topping / Guardian:
Phone-hacking scandal reaches US
Reuters:
Legal head of News International leaves company: source
Discussion: Guardian and FOXBusiness.com
Julie Moos / Poynter:
The journalistic value of aggregation creates the business value  —  Aggregation has been core to this website's success for the last decade.  Our most popular feature since 1999 has been a blog that earns its iconic place in journalism by highlighting the most interesting and important news for a passionate audience.
Discussion: New York Post and Forbes.com
RELATED:
Bill Keller / New York Times:
Let's Ban Books, or at Least Stop Writing Them  —  There was exciting news last month among the Twitterati.  Brian Stelter, The New York Times prodigy and master of social media, announced to his 64,373 followers that he is going to write a book.  The obvious question: What's up with that?
Jeremy W. Peters / Media Decoder:
Times Company to Repay Carlos Slim Early  —  Updated The New York Times Company said Wednesday that it would pay back the $250 million loan from Carlos Slim Helú, a Mexican telecommunications billionaire, on Aug. 15, freeing itself from one of its larger financial obligations.
Reuters:
Global ads spend returning to pre-crisis level-Zenith  —  (Reuters) - The global advertising market is still expected to return to pre-recession levels this year, despite Europe's debt crisis and economic uncertainty slowing demand in the United States and Europe, according to media buyer ZenithOptimedia.
Thanks:beet_tv
Mallary Jean Tenore / Poynter:
Guardian deputy editor: ‘It got pretty lonely’ covering News International scandal  —  Ian Katz, deputy editor of The Guardian, says covering The News of the World scandal was a lonely undertaking until last week.  The Guardian has covered the scandal for two years, but the scandal …
David Kaplan / paidContent:
NYT On The ‘Psychology Of Sharing’: E-Mail Still Rules  —  When the New York Times first began talking about creating a metered paywall for its website last year, the company was quick to note that social media links would be exempt in order to keep the traffic flowing.
Discussion: ANA
Laura Hazard Owen / paidContent:
The Latest iPad-Only Magazine  —  Here's a good example of putting your money where your mouth is: TabTimes, a new magazine about tablet news and put out by tech vets that can only be read on the iPad.  —  TabTimes, launching this fall as a free iPad app (and already on Twitter) …
Discussion: SiliconFilter
Lauren A. E. Schuker / Wall Street Journal:
Oprah to Take Bigger Role at Her Struggling Network  —  The queen of daytime television is moving into the corner office.  —  Oprah Winfrey is poised to become chief executive of her cable channel, OWN: the Oprah Winfrey Network, starting sometime in the fall, according to people close to the venture.
Amir Efrati / Wall Street Journal:
Yahoo Prepares New Web Ad Push  —  People are spending less time on Yahoo Inc.'s websites.  So in a bid to reverse its waning influence, the Internet company is working on a way to get more of its content and advertising on others' websites instead.  —  As part of a network it expects …
Adam Martin / The Atlantic Wire:
Nick Confessore: What I Read  —  How do other people deal with the torrent of information that pours down on us all?  What sources can't they live without?  We regularly reach out to prominent figures in media, entertainment, politics, the arts and the literary world, to hear their answers to these questions.
Andrew Damstedt / American Journalism Review:
Expanding EveryBlock  —  The hyperlocal Web site's new president sees a much bigger footprint in its future.  Wed.  July 13, 2011  —  Andrew Damstedt (adamstedt@ajr.umd.edu) is an AJR editorial assistant.  —  When Revamping the Web site earlier this year to allow visitors to start discussions …
 
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 More News: 
Ken Sonenclar / AdAge:
Why the Sale of Hulu Is (Really) Good News for Content Businesses
Lucia Moses / Adweek:
Vogue Casts 1,000 ‘Influencers’ for Network
Discussion: The Wire
AdAge:
The Surprising (Content) Future of Google+
Steve Myers / Poynter:
Just 1 in 10 TV newsrooms have beat-based reporters
Daniel D'Addario / The New York Observer:
Errol Morris, Gossip Boy
Discussion: New York Magazine
Rebecca Meany / Idaho Mountain Express & Guide:
Allen & Co. leaves town, takes secrets with it
 Earlier Picks: 
Rosemary Feitelberg / WWD Media Headlines:
Peter Manso Bristles Over New York Times' Review
Steve Myers / Poynter:
U.S. has same number of newspapers now as in 1890s
Andrew Hampp / AdAge:
With NBCU Digital Studio Closure, What's Next for Network-Backed Web Series?
Discussion: Home Media Magazine
Foster Kamer / The New York Observer:
Gawker on Drugs (Literally!)
Phillip Smith / MediaShift Idea Lab:
Stop Yammering and Start Hammering: How to Build a ‘Maker Space’ for News
Discussion: eMedia Vitals