Mediagazer: New York Times Co. sells its remaining stake in the Boston Red Sox (Beth Healy/The Boston Globe)

4:35 PM ET, May 11, 2012

Top News:

Rebekah Brooks Testifies About Relationships With British Elite — LONDON — Offering a rare glimpse into the personal relationship between political power and the press in Britain, Rebekah Brooks, the former chief executive of Rupert Murdoch's British newspaper subsidiary …

Discussion: Guardian, Capital New York, Guardian, Telegraph, Guardian, The Huffington Post, Vanity Fair, Journalism.co.uk, Bloomberg, Media Decoder and Poynter

Lisa O'Carroll / Guardian:

Rebekah Brooks: David Cameron signed off texts ‘LOL’ — Former News International chief tells Leveson inquiry that reports prime minister sent her dozens of texts a day are preposterous — David Cameron exchanged up to two text messages a week with Rebekah Brooks during the last general election campaign …

Discussion: Reuters, Mirror.co.uk, Telegraph, UK News and Opinion, CNET, Business Insider, Media & Entertainment and Journalism.co.uk

Dan Sabbagh / Guardian: Rebekah Brooks tells the Leveson inquiry of more meetings with David Cameron

Tim Karr / Save the News:
Who's Afraid of Rupert Murdoch?

Discussion: Erik Wemple

Ryan Chittum / CJR:

The Washington Post Co.'s Self-Destructive Course — Dividends, share buybacks, and an anti-paywall stance help bleed the paper dry — The Washington Post Company's dismal quarterly earnings release last week was received with something of a shrug—more of the same.

Discussion: DC Porcupine, Digg Blog, MediaPost and TechCrunch

Andrew Beaujon / Poynter:

Washington Post adds Editor's Note to Romney bullying story after saying it didn't require correction — The Washington Post is adding an editor's note to its story about Mitt Romney's high school days. “We should have been clearer about it and we are adding an Editor's note to the story …

Discussion: Mediaite, Capital New York, Gawker, TVNewser, ABCNEWS, CNN, Livewire, The Daily Dish, DC Porcupine, BREITBART.COM, DC Porcupine, Guardian, The Daily Caller and The Huffington Post

Tommy Christopher / Mediaite:

Tamron Hall Reams Tim Carney, Cuts His Mic For Accusing Her Of ‘Media Trick’ — During a segment on the Mitt Romney campaign's poor handling of the fallout from the Washington Post bullying story, News Nation host Tamron Hall got into it with frequent MSNBC guest and Washington Examiner …

Discussion: The Huffington Post, Politico and Washington Post

Beth Healy / The Boston Globe:

New York Times Co. sells its remaining stake in the Boston Red Sox — The New York Times Co. said it has sold its remaining share of Fenway Sports Group, which includes the Boston Red Sox, for $63 million. — The sale, to undisclosed buyers believed to be current minority owners of the team …

Discussion: paidContent, New York Magazine, Poynter, Media Decoder, @antderosa and @edgecliffe

Alex Weprin / TVNewser:

NBC Yanks ‘Rock Center’ From May Sweeps, Presence on Fall Lineup Unclear — NBC has pulled its primetime newsmagazine series “Rock Center with Brian Williams” from its lineup for the remainder of May Sweeps. In its place, the network will broadcast reruns of “Law & Order: SVU.”

Discussion: Mediaite, The Huffington Post, mediabistro.com, GalleyCat, Chickaboomer and AppNewser

Dave Davies / News Works:

Osberg out as publisher of Daily News, Inquirer - Bob Hall is back — Greg Osberg, the subject of a lot of controversy in February, has stepped down as publisher of the Philadelphia Inquirer, Daily News and Philly.com, which were bought by a group of local investors a few weeks back.

Discussion: JIMROMENESKO.COM, New York Times, Philly.com and @ckrewson

Josh Sternberg / Digiday:

The Atlantic Media's Digital Transformation — The Atlantic Media Company is hardly new to publishing. Its history stretches to 1857, but for an old guy it's proven to have some serious digital moves. Its outlets — The Atlantic, The National Journal and Government Executive …

Discussion: Folio and CJR

Ingrid Lunden / TechCrunch:

No Tablet News From Nokia, But It's Launching A Reading App Powered By OverDrive — There are still some big question marks over what Nokia plans to do in tablets — a market where it is now possibly the only major smartphone maker yet to make a device — but at least Nokia is moving ahead with the launch of tablet-friendly services.

Discussion: paidContent, Nokia Conversations, CNET, Mashable! and Engadget

Robin Wauters / The Next Web:

Slashnot? Geeknet mulls sale of online media businesses, including Slashdot and SourceForge — Geeknet this morning announced that its board of directors has started evaluating “strategic alternatives” for its online media businesses, which include popular ‘news for nerds’ site Slashdot …

Discussion: VentureBeat, PR Newswire, WebProNews and The Tech Trade

Alan Duke / CNN:

Reporter, fired for stripping, charges gender discrimination — Los Angeles (CNN) — A part-time stripper fired from her full-time newspaper job covering Texas high society claims she's a victim of gender discrimination. — Sarah Tressler, 30, filed a complaint this week asking …

Discussion: CJR, NY Daily News, Reuters, JIMROMENESKO.COM and Associated Press