Mediagazer: CNN Hits Lowest Primetime Demo Rating at 9 PM In 15 Years (Alex Weprin/TVNewser)

1:40 AM ET, May 18, 2012

Top News:

Los Angeles Times receives $1-million grant from Ford Foundation — The funds will help The Times expand coverage of key areas, including immigration and ethnic communities in Southern California. — The main entrance of the Los Angeles Times building (Los Angeles Times / April 30, 2012)

Discussion: LA Observed, @ckrewson, @michelemclellan, Poynter, @jayrosen_nyu, @ckrewson, Politico, @jayrosen_nyu and The Informer

Julie Moos / Poynter:

Media General to sell most of its newspapers to Warren Buffett's group — When Warren Buffett said last week that his Berkshire Hathaway might be buying more newspapers, he meant: right now. Media General announced this morning that it would be selling all of its newspapers, except its Tampa properties, to Berkshire Hathaway.

Discussion: Associated Press, Poynter, PRNewser, Wall Street Journal, Business Week, PSFK, Guardian, @romenesko, Washington Post, Bloomberg, FishbowlNY, mediabistro.com, NetNewsCheck Latest, MediaPost and Broadcasting & Cable

Jeff John Roberts / paidContent:

Why Warren Buffett is buying newspapers — The Oracle of Omaha acquired his hometown newspaper in January and just snapped up dozens more in a $142 million deal. This is supposed to be the fastest declining industry in America. What is Warren Buffett up to? — Here's why the deal makes a lot more sense than it appears:

Discussion: Wall Street Journal, Newsonomics and Gawker

Eric Deggans / Tampa Bay Times:
Warren Buffett's Berkshire Hathaway to purchase all Media General newspapers except Tampa Tribune for $142 million

Discussion: @ckrewson

Rachel McAthy / Journalism.co.uk:

Sir Harold: ‘Fatal miscalcuation’ over Murdoch's 1981 bid — Speaking about Rupert Murdoch's bid for the Times and the Sunday Times Sir Harold Evans also described the revelation of a meeting between Margaret Thatcher and Murdoch in 1981 as ‘astonishing’ — Sir Harold Evans …

Discussion: Guardian and Telegraph

Ravi Somaiya / New York Times:

After 7 Years, No End in Sight to Phone Hacking Scandal — LONDON — The phone hacking scandal that shook Rupert Murdoch's global media empire and hit the heart of the British government began quietly on a Monday in 2005, when aides to the British royal family gathered in a palace office appointed …

Discussion: Free Press

Huffington Post UK: David Cameron ‘Was Briefed By News International’ On How To Treat Murdoch

Alex Weprin / TVNewser:

CNN Hits Lowest Primetime Demo Rating at 9 PM In 15 Years — Last night was a typical, boring Tuesday, with little earth-shattering news to drive TV viewers to cable news. It was also May sweeps, with the season finale of “NCIS: LA,” “America's Got Talent” on NBC and “Dancing With the Stars” …

Discussion: Deadline.com and All Things CNN

Evelyn M. Rusli / DealBook:

Spotify's Financing Is Said To Lift Value to $4 Billion — Spotify is in the process of raising a new round of financing that would value the popular online music service at up to $4 billion, according to people with knowledge of the matter, in the latest eye-popping Internet company valuation.

Discussion: VentureBeat, ReadWriteWeb, The Verge, Forbes and WebProNews

Justin Ellis / Nieman Journalism Lab:

They'll do it live: Inside Boston Sports Live, The Boston Globe's new noon sports show — “Where's Gasper? We might need him.” — There's an empty chair where Christopher Gasper should be. It's at a news desk set against a green screen in the studio where Boston Sports Live will go on the air at noon in about 15 minutes.

David Bauder / Associated Press:

Larry King Talk Show ‘Larry King Now’ Debuts This Summer — NEW YORK (AP) — Larry King said Thursday that his talk show will resume this summer on the new digital network Ora.TV, earlier than he or the network had anticipated. The show “Larry King Now” will mark the startup of the network financed by Mexican billionaire Carlos Slim.

John Biggs / TechCrunch:

Netflix's Former Customers Are Returning After Rebranding Fiasco — At a J.P. Morgan conference held in Boston on Wednesday, Netflix CFO David Wells said that the company was looking up and, more importantly, customers who cancelled the service because of the Qwikster rebranding, plan repricing …

Discussion: Digital Media Wire, Techland, The Official Netflix Blog and GigaOM

Zeke Miller / BuzzFeed:

Obama Campaign Keeps Press Away From Biden — MARTINS FERRY, Ohio — Staff members for Vice President Joe Biden prevented reporters from asking him a question after a campaign event here, as Biden greeted supporters on a rope line. Four reporters approached Biden as he was shaking hands …

Discussion: Capital New York, Mediaite, The Huffington Post and Jack Shafer

John Cook / Gawker:

Wall Street Journal Fights Back Against Claims Rupert Murdoch and Jon Huntsman Fed It a Bulls**t Rumor — A Chinese writer is claiming that Rupert Murdoch was behind one of the Wall Street Journal's more embarrassing recent corrections—the paper wrongly claimed that the son …

Discussion: WantChinaTimes-News and Sinocism