Mediagazer: Demand Media on M&A radar after failed buyout bid; shares soar (Sayantani Ghosh/Reuters)

9:40 AM ET, May 1, 2012

Top News:

Rupert Murdoch ‘not fit’ to lead major international company, MPs conclude — Select committee also says James Murdoch showed ‘wilful ignorance’ of extent of phone hacking at News of the World — Rupert Murdoch is “not a fit person” to exercise stewardship of a major international company …

Guardian:

Phone hacking: select committee report - live — MPs' verdict on News of the World phone hacking scandal expected to criticise James Murdoch, but fall short of accusing him of misleading parliament

Discussion: CNN

Patrick Wintour / Guardian:

Phone-hacking report puts David Cameron in an uncomfortable position — The prime minister genuinely admires Murdoch, but he may feel uneasy at the sight of his MPs standing by the News Corp boss — David Cameron and his Conservative MPs now face the unappetising political prospect …

Discussion: paidContent

Katherine Rushton / Telegraph:

MPs' phone hacking report puts pressure on James Murdoch to cut ties with News Corp and BSkyB — News Corporation has routinely withheld key evidence about phone hacking and tried to buy its victims' silence, as its directors displayed “wilful blindness” over the phone hacking affair …

Dina Rickman / Huffington Post UK:

Phone Hacking Report: Colin Myler Stands By Evidence He Gave To MPs — Former News of the World editor Colin Myler said he “stands by” the evidence he gave MPs over phone hacking after being accused of misleading parliament. His statement comes after MPs' unanimously found that the current editor …

Tom Watson MP: News International and Phone Hacking

Anthony Ha / TechCrunch:

The Digg Team Is Going To WaPo, But The Assets Aren't — Has The Washington Post acquired Digg, as reported in The Next Web? Sort of. — We're hearing that the Post has hired the Digg team, but is not acquiring the site or the technology. In other words, this is a talent acquisition …

Discussion: VentureBeat and The Next Web

Drew Olanoff / The Next Web:

Rumor: Digg to be acquired by The Washington Post (updated: site will remain, tech team transfers) — With a history only fitting an Internet business, Digg has seen the highest of the highs and the lowest of the lows, and everywhere in between. — We've received a tips from multiple sources …

Discussion: AllThingsD, eMedia Vitals, paidContent, Fast Company, @edbott, @mathewi, The Verge, CNET, @rafat, @ckrewson and Business Insider

Claire Atkinson / New York Post:

Hulu, networks to change model of free streaming — Viewers who stream network TV shows may soon discover the free ride is not so free. Hulu, which attracted 31 million unique users in March under a free-for-all model, is taking its first steps to change to a model where viewers …

Sayantani Ghosh / Reuters:

Demand Media on M&A radar after failed buyout bid; shares soar — (Reuters) - Shares of Demand Media Inc (DMD.N) rose 31 percent on Monday, following reports that an offer to take the company private fell through over the weekend, fuelling hopes that the online content provider may be up for grabs.

Discussion: eMedia Vitals

Alexis Madrigal / The Atlantic Online:

Where Do All Those BuzzFeed Cute Animal Pictures Come From? — BuzzFeed founder Jonah Peretti discusses the copyright implications of all the adorable cats, disappointed otters, and worried monkeys that grace the site. — It all started when I was looking at a photograph of an otter that was …

Discussion: Erik Wemple, Betabeat, eMedia Vitals and Business Insider

New York Times:

Developers Are Working on Television Apps, but TV Industry Is Wary — The same consumers who delight in navigating the iPad still click frustratingly through cable channels to find a basketball game. Their complaint: Why can't television be more like a tablet?

Discussion: Company Town, Noted and The Verge, Thanks:@bgoodcam

Kevin C. Tofel / GigaOM:

A brief history of Microsoft's e-reader efforts — Although Microsoft invested $300 million in a Barnes & Noble spin-off on Monday, this isn't the first time Microsoft played the e-book game. Typical for the company, it often has great ideas, but it errs on the timing.

Discussion: CNET, Digital Book World, Wired, paidContent and TechCrunch

Om Malik / GigaOM:
At $1.7 billion, Nook is worth more than Barnes & Noble itself

Discussion: DealBook and Barnes & Noble, Inc.

Mike Allen / Politico:

Ben Bradlee, Sally Quinn defend Bob Woodward — Ben Bradlee and Sally Quinn made strong statements of support for Bob Woodward and his Watergate reporting on Monday, moving to defuse damaging questions raised by a new article and biography that includes musing by Bradlee about whether some details had been embellished.

Discussion: Jack Shafer, Erik Wemple and Politico