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2:25 PM ET, May 1, 2012

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 Top News: 
Guardian:
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 …
RELATED:
News Corp:
News Corporation Statement of UK's Parliamentary Select Committee of Culture, Media and Sport's News of the World Report  —  “Hard truths have emerged from the Select Committee Report: that there was serious wrongdoing at the News of the World; that our response to the wrongdoing was too slow …
Jim Romenesko:
Murdoch's letter to Dow Jones employees  —  In a memo to employees, Rupert Murdoch says of the UK Parliament panel's phone hacking report: “I recognize that for all of us - myself in particular - it is difficult to read many of the report's findings.  But we have done the most difficult part …
Press Gazette:
Myler, Crone and Hinton could face public dressing down  —  Three former senior News International executives could be summoned to the Commons to face a public dressing down from MPs over allegations they misled Parliament.  The House of Commons will be asked to agree with the Culture …
Discussion: @skynewsbreak and ITV News
Andrew Pugh / Press Gazette:
‘Les Hinton was complicit in cover-up at News Int’  —  Ex-News International chief executive Les Hinton sanctioned a series of “extraordinary” payments to former News of the World royal editor Clive Goodman after his phone-hacking conviction in a bid to buy his silence …
Tom Watson MP:   News International and Phone Hacking
Andrew Beaujon / Poynter:
ABC: Newspaper circulation rose in last six months, 5% on Sundays  —  Newspapers across the country gained readers in the last six months, compared to the same period a year ago.  Nationally, daily circulation was up .68 percent for digital and print at the 618 papers reporting …
RELATED:
Dylan Byers / Politico:
New York Times rising, WaPo struggling
Discussion: The Huffington Post and Adweek
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 …
Peter Kafka / AllThingsD:
Digg's Tech Team Heads for the Washington Post, and Digg Looks for a Lifeline  —  Digg isn't done.  Yet.  —  But it's looking pretty close.  The Washington Post is in the process of buying/hiring the news aggregator's technology team, but isn't purchasing the business itself …
Brian Stelter / Media Decoder:
Discovery Is Said to Pursue Revision3, a Web Video Company  —  Discovery Communications, the owner of Discovery and a dozen other cable channels, could soon scoop up Revision3, a maker and distributor of Web video shows.  —  The two companies are in talks that could result in a sale as early as this week …
Discussion: VentureBeat, Beet.TV and TechCrunch
Michael Calderone / The Huffington Post:
American Prospect Raises $7,500 On Day 1, But ‘Long Way To Go’ To Avoid Closing  —  NEW YORK — The American Prospect has raised $7,500 from 130 individual donors since The Huffington Post reported Monday that the cash-strapped liberal magazine may close this month.
 
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Dr. Martens and Say Media Engage Teens Who #STANDFORSOMETHING  —  What do today's teenage girls want?  In a word: authenticity.  If a brand offers true social engagement in a place they value through voices they trust …
AdExchanger:
GE Considers Native Ad Success Online And Off  —  Coming from the agency world three years ago, Alexa Christon brought creative rather than media experience to her evolving role at GE, where she is now head of media innovation.
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 More News: 
New York Times:
Developers Are Working on Television Apps, but TV Industry Is Wary
Discussion: Company Town, Noted and The Verge, Thanks:@bgoodcam
Ben Sisario / Media Decoder:
Cumulus, a Growing Radio Power, Sells 55 Scattered Stations
Sayantani Ghosh / Reuters:
Demand Media on M&A radar after failed buyout bid; shares soar
Jeff Bercovici / Mixed Media:
Dan Rather: Mark Cuban Has The Guts My CBS Bosses Lacked
Discussion: The Atlantic Wire
 Earlier Picks: 
Keith Matheny / USA Today:
College newspapers feel financial pinch
Claire Atkinson / New York Post:
Hulu, networks to change model of free streaming
Erik Wemple:
New York news site hires new people!
Andrew Beaujon / Poynter:
Lawyer: Student likely owns falling bear photo, not newspaper