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3:55 PM ET, May 13, 2012

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 Top News: 
Kara Swisher / AllThingsD:
Exclusive: Yahoo's Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion  —  Yahoo's embattled CEO Scott Thompson (pictured here) is set to step down from his job at the Silicon Valley Internet giant, in what will be dramatic end to a controversy over a fake computer science degree …
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Yahoo! Pressroom Home:
Yahoo! Names Fred Amoroso Chairman and Appoints Ross Levinsohn Interim CEO  —  Board Announces Settlement with Third Point LLC  —  SUNNYVALE, Calif. — Yahoo! Inc. (NASDAQ: YHOO) today announced that the Board of Directors has named Fred Amoroso as Chairman of the Board of Directors …
Discussion: AllThingsD
Evelyn M. Rusli / DealBook:
Meet Yahoo's New Interim Chief, Ross Levinsohn  —  Yahoo's revolving door of chief executives has turned again.  —  Scott Thompson, Yahoo's chief executive of just four months, will leave following a growing controversy over his embellished academic record, according to people briefed on the matter.
Mathew Ingram / GigaOM:
Google's head of news: Newspapers are the new Yahoo  —  Google has a somewhat tense relationship with the traditional newspaper industry, since publishers like News Corp.'s Rupert Murdoch still believe it is depriving them of revenue by “stealing” their content and aggregating it at Google News.
Mathew Ingram / GigaOM:
My personal take: 3 reasons I don't like newspaper paywalls  —  We've written a lot at GigaOM about the rise of newspaper paywalls, a trend that seems to be accelerating as the financial health of the industry continues to deteriorate, and in particular I've written a number of posts about what I see as the downsides of paywalls.
Global Newsroom:
Al Jazeera: One Name, Two Channels  —  Many loyal Al Jazeera English viewers worldwide are drawn to the television network because of its insightful coverage of last year's Arab Spring uprisings - and its in-depth reporting from the developing world.  Since its creation in 2006 …
Estelle Shirbon / Reuters:
Britain's Cameron feels wrath of Murdoch press  —  (Reuters) - Embarrassed by revelations of how he cozied up to Rupert Murdoch's scandal-hit British newspaper group, Prime Minister David Cameron has now lost what the relationship was supposed to deliver: support from the Murdoch press.
Tom McGeveran / Capital New York:
Jason Horowitz and ‘The Washington Post’ won, and the rest is political noise  —  There were lots of moments in Jason Horowitz's piece in The Washington Post yesterday morning about presidential candidate Mitt Romney's high-school days at the elite Cranbrook Schools in Michigan.
RELATED:
Andrew Beaujon / Poynter:
Washington Post adds Editor's Note to Romney bullying story; Ombud weighs in
Tommy Christopher / Mediaite:
Tamron Hall Reams Tim Carney, Cuts His Mic For Accusing Her Of ‘Media Trick’
Mark Hannah / MediaShift:
Will Online Video Coverage of U.S. Election Eat into Text-Based Stories?  —  As I've read up online about the 2012 campaign news in recent months, I've noticed I'm doing a lot less, well, reading.  I've checked around a bit and confirmed that websites that traditionally focus on text-based journalism …
Neal Ungerleider / Fast Company:
Twitter Developing Original Sports Content  —  @JohnMadden @MarvAlbert @BobCostas Watch your backs.  #TwitterSports.  —  Sports fans are one of Twitter's core audiences.  The microblogging giant hasn't been shy about their interest in working with established brands …
Nat Ives / AdAge:
Time's Perfect Controversy: Advertisers, Retailers Fine With Breast-feeding Cover  —  Gets More Subscription Orders in One Day Than the Whole Week Before  —  Time may have just stoked the perfect controversy: It got everybody talking but made very few people actually angry.
Julie Bosman / Media Decoder:
Houghton Mifflin Harcourt Enters Bankruptcy Process  —  Houghton Mifflin Harcourt, the educational and trade publisher in Boston, has agreed with most of its creditors to eliminate $3.1 billion of debt and enter a prearranged Chapter 11 bankruptcy process, the company said on Friday.
Discussion: GalleyCat
 
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Say Media / Say Daily:
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AdExchanger:
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 More News: 
Reuters:
U.S. Senate to hold hearing on Universal-EMI deal
Ingrid Lunden / TechCrunch:
No Tablet News From Nokia, But It's Launching A Reading App Powered By OverDrive
Josh Sternberg / Digiday:
The Atlantic Media's Digital Transformation
Discussion: Folio
 Earlier Picks: 
Robin Wauters / The Next Web:
Slashnot? Geeknet mulls sale of online media businesses, including Slashdot and SourceForge
Jeff John Roberts / paidContent:
Search engines have same speech rights as the New York Times, says Google report
Alex Weprin / TVNewser:
NBC Yanks ‘Rock Center’ From May Sweeps, Presence on Fall Lineup Unclear