Mediagazer: News Corp. Publishing Profit Drop Tests Murdoch Strategy (Bloomberg)

10:20 AM ET, June 29, 2012

Top News:

Steve Myers / Poynter:

Were CNN & Fox News' mistakes on Supreme Court ruling part of ‘process journalism’? — We all know that CNN and Fox News mistakenly reported Thursday that the Supreme Court struck down the “individual mandate” part of the health care law. How did this happen? Who's responsible? — I blame Jeff Jarvis.

Discussion: Mediaite, NPR, ABCNEWS, NetNewsCheck Latest and BuzzMachine

Rem Rieder / American Journalism Review:

Who Was First? Who Cares? — The ridiculous battle over who “broke” the news on the health care ruling―and why it's dangerous. Thurs., June 28, 2012. — Rem Rieder (rrieder@ajr.umd.edu) is AJR's editor and senior vice president. — Q: Which news organization was first to report …

Discussion: Media Decoder, mediabistro.com, FishbowlDC, New York Times, Erik Wemple, Jack Shafer, Gawker, Tampa Bay Times, Poynter, JIMROMENESKO.COM, JIMROMENESKO.COM, JIMROMENESKO.COM and Washington Post

Frances Martel / Mediaite:

Jon Stewart Ridicules CNN, Fox News For Getting Supreme Court Decision Wrong — Chief Justice John Roberts pulled a fast one on the media who tried to skim his decision today, as he argued that the individual mandate was unconstitutional before he declared it a tax.

Discussion: Charles Apple, The Raw Story and Forbes

Andrew Beaujon / Poynter:
CNN issues correction, Fox issues statement on Supreme Court reporting mistakes

Discussion: Mediaite, The Wrap, New York Times, NPR, NetNewsCheck Latest, Speakeasy, The Daily Beast, The Huffington Post, Forbes and Poynter

Michael Hastings / BuzzFeed:
CNN News Staffers Revolt Over Blown Coverage

Discussion: FishbowlDC, The Huffington Post, Poynter, Mashable!, The Daily Beast, Politico, Business Insider, Gawker, @producermatthew, TVNewser, CNN, BostInno, Mediaite, The Daily Caller and Collective Talent

Jake Tapper / ABCNEWS:
POTUS First Learned Erroneous News on Court Decision from Cable TV

Discussion: Yahoo! News, Poynter, The Huffington Post, New York Magazine, Online NewsHour, Politico, Hollywood Reporter, CJR, Adweek, Gawker, Mediaite, TVNewser, Guardian and Erik Wemple

Wall Street Journal:

Inside Murdoch's Decision — Rupert Murdoch long resisted any suggestion—be it from bankers or executives within News Corp. —that the media conglomerate spin off the company's newspaper assets, which had become a drag on the stock. — “I was hanging on, and so was the whole family,” …

Bloomberg:

News Corp. Publishing Profit Drop Tests Murdoch Strategy — News Corp. Chairman Rupert Murdoch's fondness for newspapers won't be enough for investors to overlook declining profit at the publishing company he plans to spin off. — Operating income at the company's publishing unit …

Felix Salmon:
News Corp's digital divergence

Discussion: NPR and Reuters

Michael Calderone / The Huffington Post:
Rupert Murdoch Suggests Wall Street Journal Won't Face Cuts In News Corp. Split

Discussion: New York Times, Poynter, Wall Street Journal, GalleyCat, Business Insider and TVNewser

Ingrid Lunden / TechCrunch:
Murdoch Says Separated News Corp Publishing Biz Will ‘Push Even Harder’ On Charging For Content

Discussion: Guardian, NetNewsCheck Latest, The Next Web and Business Wire

Staci D. Kramer / paidContent:
The Murdoch media tour: Spinning the spinoff

Discussion: NetNewsCheck Latest, Capital New York and Radio & Television …

Yinka Adegoke / Reuters: News Corp split sets stage for possible Lachlan return

Mark Sweney / Guardian:
Tom Mockridge and Robert Thomson tipped to head News Corp's press arm

Discussion: NPR and Media Week

Ben Sisario / Media Decoder:

Passing Final Hurdle, Sony's Deal for EMI Publishing Is Approved by U.S. — The Federal Trade Commission has approved the $2.2 billion sale of EMI Music Publishing to an investor group led by Sony, the agency announced on Friday morning. With that clearance, the sale is expected to close later in the day.

Discussion: Hillicon Valley

Ingrid Lunden / TechCrunch:

AOL Reorganizes Into Membership, Brand And Ad Units [Incl Armstrong's Memo] — After yesterday's $400 million share buyback, some more news today from our owners, AOL: it's reorganizing into three operating units, plus a separate one for corporate support of all three: they will be called AOL Membership …

Discussion: CNET, Business Insider, NetNewsCheck Latest and TechCrunch

Associated Press:

Savannah Guthrie Fills In Following Curry's ‘Today’ Exit — There's no word if she has the job full-time, but Savannah Guthrie is in Ann Curry's former chair as co-host of NBC's “Today” show. Guthrie sat beside Matt Lauer on Friday, discussing stories about the Colorado wildfires and Supreme Court health care decision.

Discussion: New York Post and Media Decoder

Sharon Waxman / The Wrap:
Ann Curry Mess: Did NBC Learn Nothing From Conan O'Brien?

Discussion: Broadcasting & Cable and TVNewser

Alexandra Alter / Wall Street Journal:

Your E-Book Is Reading You — Digital-book publishers and retailers now know more about their readers than ever before. How that's changing the experience of reading. — It takes the average reader just seven hours to read the final book in Suzanne Collins's “Hunger Games” trilogy on the Kobo e-reader—about 57 pages an hour.

Discussion: The Verge and Digital Book World

Associated Press:

China blocks Bloomberg site after report on leader — China blocked access to Bloomberg's website on the mainland after the business and financial news agency published a report Friday detailing the multimillion-dollar assets of relatives of the man set to become the country's next president.

Discussion: Talking Biz News

Bloomberg:

Microsoft Said To Plan Xbox Music Rivaling Apple, Spotify — Attendees at the E3 Expo in Los Angeles, June 5, 2012. Microsoft Corp. expanded the sports and entertainment content offered through the Xbox, and is planning to add iTunes and Spotify for music.

Discussion: PC Magazine, MacRumors, The Wrap and Engadget

Jason Del Rey / AdAge:

Hearst Unveils Private Ad-Buying Marketplace for Its Magazine Websites — A Play for Programmatic Online Advertising Dollars — Another big magazine company is looking to ad tech to make its online ad inventory more valuable. — Six months after Conde Nast launched a private ad marketplace …