Mediagazer: Why rich people are investing in newspapers, again (Andrew Beaujon/Poynter)

4:00 PM ET, May 24, 2012

Top News:

Steve Myers / Poynter:

Times-Picayune to publish three days a week, cut staff — A memo from Times-Picayune publisher Ashton Phelps Jr. confirms that the newspaper will cease daily publication, moving to three days a week in the fall: Wednesday, Friday and Sunday. The memo also confirms staff cuts, though it doesn't say how large they will be.

Discussion: Newspaper Death Watch, Erik Wemple, Save the News, Media Decoder, CJR, The Awl, Capital New York, JIMROMENESKO.COM, NetNewsCheck Latest, Guardian and The Newspaper Guild

John McQuaid / Forbes:

The Digital Future of The Times-Picayune — I spent most of my journalism career at The Times-Picayune and have many friends there, so the news that its owners are slashing the staff, dismissing top editors, and cutting back publication days is very difficult to process.

Discussion: The Huffington Post, JIMROMENESKO.COM, Blog of New Orleans, Gambit and Business Insider

Jack Mirkinson / The Huffington Post:

New Orleans Times-Picayunes Faces Deep Cuts, Will End Daily Publication — The New Orleans Times-Picayune, the paper that became internationally famous for its courageous reporting during Hurricane Katrina, is facing steep cuts and will end its 175-year history of daily publication, the paper announced Thursday.

Discussion: New Orleans Times-Picayune, Forbes, The Gambit, Media Decoder, @davidfolkenflik, @the_gambit, @the_gambit, @the_gambit, @toffleresque, @lizzieohreally, @elgray, @ryanchittum and @bmccarthytp

Andrew Beaujon / Poynter:
Advance cuts daily publication of its three Alabama papers

Discussion: Associated Press and Inside Alabama

Andrew Beaujon / Poynter:

Why rich people are investing in newspapers, again — In March, Chris Hughes paid around $5 million for a majority share of The New Republic. On Sunday The New York Times reported he'd be doubling the magazine's staff and hiring former editor Franklin Foer to edit the magazine once again.

Discussion: Forbes, NetNewsCheck Latest and Publishing Executive …

Chris O'Shea / FishbowlNY:

Warren Buffett Won't Stop Buying Newspapers Until He's Dead — Warren Buffett is going to buy more newspapers. Yes, in addition to the 63 his Berkshire Hathaway Media Group scooped up last week. In a letter sent to the editors and publishers of those publications, Buffett says he …

Discussion: Poynter, Lists and JIMROMENESKO.COM

Gordon Rayner / Telegraph:

Leveson Inquiry: Jeremy Hunt memo shows he backed News Corp bid for BSkyB before taking charge of decision — The Culture Secretary told the Prime Minister it would be “totally wrong” for the Government to “cave in” to News Corp's opponents and instead allow it to help the UK “lead the way” in the media industry.

Discussion: @arusbridger, Guido Fawkes, @jamesro47, @tomjharper, @skynewsbreak, @rosschawkins and London Evening Standard

Reuters:
UK minister leaked information in Sky deal - News Corp

Discussion: Telegraph

Bobbie Johnson / paidContent:

New ‘radically simplified’ WordPress is on the way — Matt Mullenweg, the founder of WordPress and Automattic (see disclosure) says that the service is preparing for a significant change of direction — by releasing a much simpler version designed to work on mobile.

Discussion: Beet.TV, The Huffington Post and The Next Web

Laura Hazard Owen / paidContent:

Amazon bans Kindle Store spam (finally) — Amazon is finally banning some of the junkier content in the Kindle Store, including “content that is freely available on the web unless you are the copyright owner of that content.” — The company is making new rules on public domain and “other non-exclusive content.”

Discussion: Plagiarism Today, The Domino Project and WebProNews

Jeff Bercovici / Mixed Media:

The Case Against AOL, In Numbers — Starboard Value, the activist hedge fund that seeks to replace three of AOL's directors with its own nominees next month, has laid out its disagreements with the internet giant's current management in a 96-page presentation to investors.

Discussion: CNET

Paul Bond / Hollywood Reporter:

Fox News Slams Professors Who Claimed Its Viewers Were Ill-Informed — The cable channel was mum the first time around, but now that Fairleigh Dickinson University has released a follow-up study that disparages its audience, FNC is striking back with some observations of its own.

Discussion: TVNewser, TVWeek.com, Mediaite and mediabistro.com

Andrew Beaujon / Poynter:
Survey: NPR's listeners best-informed, Fox viewers worst-informed

Discussion: The Media Machine, Erik Wemple, Mediaite, The Huffington Post and Hit & Run

Mike Shields / Adweek:

NBCU Exploring Buyback of MSNBC.com — Chris Matthews must be getting that tingling feeling down his leg again. He and his colleagues may soon have a giant news site to call their own. — That's because NBCUniversal is in serious negotiations with Microsoft to buy back MSNBC.com.

Joe Pompeo / Capital New York:

Press scrambles to cover new Etan Patz developments — The news that a New Jersey man has claimed to have murdered Etan Patz on May 25, 1979, a date that became known as National Missing Children's Day in his memory, came too late for today's newspapers. The question is whether the story will remain big enough for tomorrow's.

Discussion: Forbes

Zach Dionne / Vulture:

Jennifer Egan's New Yorker Story Will Be Serialized on Twitter Over Ten Nights — News many will be quickly thrilled by: Brooklyn author Jennifer Egan has composed a short story revolving around a character from her 2011 Pulitzer winner A Visit From the Goon Squad.

Discussion: 10,000 Words, GalleyCat, The New York Observer, newsfeed.time.com, Media Decoder and Gizmodo