Mediagazer: now JP Morgan is also advising News Corp. on breakup plans, along with Centerview and Goldman. (Edmund Lee/@edmundlee)

11:55 AM ET, June 27, 2012

Top News:

News Corp. Decision on Splitting Up Expected by Thursday — News Corp.'s board is set to decide Wednesday whether to proceed with a split of the media conglomerate into two companies, carving the bigger and more profitable entertainment businesses from the newspapers.

Discussion: Nieman Journalism Lab, Los Angeles Times, Gannett Blog, Deal Journal, paidContent, News Corporation, Reuters, Guardian, DealBook, Crikey, Media Decoder, Wall Street Journal, Guardian and paidContent

Michael Wolff / Guardian:

News Corp's split makes Rupert Murdoch a paper tiger — News Corp's division into entertainment giant and struggling newsprint empire is a humbling moment for Rupert Murdoch — This may be the most humble day of Rupert Murdoch's life. His company seems to be spurning his newspapers …

Discussion: Media Decoder, Jack Shafer, CJR, The Huffington Post and Deal Journal

Edmund Lee / @edmundlee:

now JP Morgan is also advising News Corp. on breakup plans, along with Centerview and Goldman.

Felix Salmon:
News Corp loses its news

Discussion: New York Times and Business Insider

Amy Chozick / DealBook:
Top Executives Weigh Breakup of News Corp.

Discussion: Guardian and The Huffington Post

Bloomberg:
News Corp. Is Said To Work With Goldman Sachs On Breakup Plans

Discussion: The New York Observer

Charles McGrath / New York Times:

Nora Ephron, Wry Woman of Letters, Is Dead at 71 — Nora Ephron, an essayist and humorist in the Dorothy Parker mold (only smarter and funnier, some said) who became one of her era's most successful screenwriters and filmmakers, making romantic comedy hits like “Sleepless in Seattle” and …

Jack Mirkinson / The Huffington Post:
Nora Ephron Dead: Remembering Her Journalism Career

Discussion: New York Times, The New Yorker Blog, Washington Post, Deadline.com, Los Angeles Times and Mediaite

Dylan Byers / Politico:

What's wrong at CNN — In April, as Republicans were throwing their weight behind Mitt Romney and the lengthy, combative presidential primary process was drawing to a close, CNN's Senior Vice President and Washington bureau chief Sam Feist presented his staff with a “CNN Half-time Election Report.”

Discussion: TVNewser and Inside Cable News

Michael O'Connell / Hollywood Reporter:

CNN Hits 21-Year Ratings Low in Second Quarter — Battered by a series of rough weeks and big losses for Anderson Cooper and Piers Morgan, the cable news network sinks with total viewers and in the coveted adults 25-to-54 demo. — After several months of bad ratings news for CNN …

Discussion: Deadline.com, TVNewser, Mediaite, TVbytheNumbers, Chickaboomer, New York Magazine and The Daily Caller

Bill Carter / Media Decoder:
Without News, CNN Is Without Viewers

Discussion: TVNewser, The Huffington Post, Gawker and The Wrap

Farhad Manjoo / Slate:

Want to know the secret to BuzzFeed's monster online success? Click here! — Want to know the secret to BuzzFeed's monster online success? Click here! — Last Wednesday, BuzzFeed's Jack Shepherd published an irresistible piece called, “21 Pictures That Will Restore Your Faith in Humanity.”

Discussion: Poynter, Betabeat, The New Yorker Blog and @peretti

Philip Bump: Let's talk about this “how BuzzFeed works” post by Farhad Manjoo.

Brian Stelter / Media Decoder:

Savannah Guthrie Is Said to Be Offered Role as Co-Host of ‘Today’ — NBC News officials are in negotiations to have Savannah Guthrie, a relatively new face at the “Today” show, replace Ann Curry as the show's co-host. — The co-host position has been offered to Ms. Guthrie …

Discussion: TVNewser, The Huffington Post, Hollywood Reporter, New York Post, Chickaboomer and Mediaite

Jeff John Roberts / paidContent:

Does Flipboard need to rethink its revenue-share formula with publishers? — It's like getting dumped on the day of your big promotion. That's how Flipboard must have felt after two prominent magazines said they were leaving just hours after the popular news aggregator announced a groundbreaking partnership with the New York Times.

Discussion: NetNewsCheck Latest, Publishing Executive … and Guardian

Mathew Ingram / GigaOM:
Pulse vs. Flipboard: Which will win, subscriptions or ads?

Discussion: eMedia Vitals, NetNewsCheck Latest and TechCrunch, Thanks:@mathewi

David Benoit / Deal Journal:

Investors See Some Value in Newspaper Companies — Newspaper companies, of the type News Corp. might spin off, are trading at premiums to book value, suggesting investors still see value in the business. — New York Times Co., McClatchy Co. and Gannett Co., three of the biggest newspaper companies …

Discussion: CJR

Joe Pompeo / Capital New York:

Ed O'Keefe to leave ABC News Digital for ‘Planet Daily’ — UPDATE: O'Keefe is headed to the forthcoming Lerer Ventures breaking news and video site currently being referred to as Planet Daily, which has been operating so far in stealth mode, a spokesman for the venture confirms.

Ingrid Lunden / TechCrunch:

NYTimes: All The News That's Fit To Post (And Tweet) In China? Chinese Site, Weibo Account Spotted — Looks like The New York Times' groundbreaking, paywalled deal with Flipboard was yesterday's news: today comes another development for the Grey Lady and how she is working hard to leverage social media for the next stage of growth.

Discussion: Tech in Asia

Bill Dedman / MSNBC:

Also not a Pulitzer Prize nominee: Charles Gasparino of Fox Business — NEW YORK — If you're keeping a list of journalists who have claimed for years to be Pulitzer Prize nominees without the inconvenience of actually being nominated for a Pulitzer Prize, add one more name: Charles Gasparino …

Discussion: Talking Biz News, msnbc.com and The Huffington Post

Chris Roush / Talking Biz News:

Reuters, WSJ, Milwaukee and Detroit papers among Loeb winners — Felix Salmon of Reuters and The Wall Street Journal are winners of Gerald Loeb Awards, considered the Pulitzer Prizes of business journalism. Salmon won in the blogging category. Reuters also won in the news service category for …

Craig Silverman / Poynter:

Hearst editor acknowledges New Canaan News still searching for fabricated stories — Ashley Varese does not want to talk about Paresh Jha. — Varese is the editor of the New Canaan News, a small weekly paper owned by Hearst that last week admitted fired staff reporter Jha …

Discussion: @jackshafer