Mediagazer: Dow Jones buys remaining 40 percent stake in WSJ's Japan site (Chris Roush/Talking Biz News)

11:45 AM ET, July 13, 2012

Top News:

Once a Social Media Star, Digg Sells for $500,000 — Digg Inc., a social-media pioneer once valued at more than $160 million, is selling for the deeply discounted price of about $500,000, three people familiar with the matter said. — The buyer is New York technology development firm Betaworks …

Alexia Tsotsis / TechCrunch:

Digg Sold To LinkedIn AND The Washington Post And Betaworks — Sun Valley and self-driving cars aside, the story of the day today is that social news site Digg has sold its remaining assets for $500K to the NYC-based tech firm Betaworks. While that number is indeed in the ballpark …

Discussion: the Econsultancy blog, WebProNews, Business Insider, Fortune, The Wall Blog, Media News and One Man & His Blog

Alexis Madrigal / The Atlantic Online:

The Big Digg Lesson: A Social Network Is Worth Precisely as Much as Its Community — A social networking company is not a technology company like Intel is a technology company; its users are its product. — Digg has been sold for the astonishingly low price of $500,000 to Betaworks, the Wall Street Journal reports.

Discussion: MOTHERBOARD

Jenna Wortham / Bits:

Betaworks Buys What's Left of Social News Site Digg — For a while, Digg, the social news site, was one of the hottest things on the Web. But then it fell on hard times as services like Twitter and Facebook emerged and captured the Web's attention. — Digg's founders fled to greener pastures …

Discussion: eMedia Vitals, Digg Blog, SocialTimes, Eamonn Fitzgerald's Rainy Day, Guardian, Softpedia News, Wired, Mashable!, Betabeat and ReadWriteWeb

Bloomberg:

Diller Says Aereo Will Expand To Most Large U.S. Cities — Aereo Inc., the online television service backed by Barry Diller, will expand from New York to other large U.S. cities following a favorable court ruling, the 70-year-old billionaire said. — “We're going to really start marketing …

Discussion: Business Insider, Fast Company, Betabeat, Gotta Be Mobile, VentureBeat, CNET, The Verge and Wall Street Journal

Joe Flint / Los Angeles Times:
Barry Diller making trouble for broadcasters

Discussion: MediaPost, Washington Post and Bloomberg

Jay Rosen / Pressthink:

If Mitt Romney were running a “post-truth” campaign, would the political press report it? — No, they would not. This falls under: too big to tell. — The Boston Globe reports: Mitt Romney stayed at Bain 3 years longer than he stated. “Firm's 2002 filings identify him as CEO, though he said he left in 1999.”

Discussion: Politico, American Prospect and Hot Air

Erik Wemple:
Text of Romney campaign correction request to the Boston Globe

Discussion: Business Insider, Washington Post and Boston Globe

Dylan Byers / Politico:
Romney camp: Globe story ‘inaccurate’

Discussion: Erik Wemple, The Huffington Post, msnbc.com, Business Insider, The Caucus, The Raw Story, TIME.com, The Week, The Daily Dish, The Boston Globe, CNN, Mother Jones, Washington Post, Erik Wemple, CJR, Guardian and @erikwemple

Erik Wemple:
Globe to credit TPM, Mother Jones in Bain-Romney story

Discussion: New York Magazine, The Huffington Post, Fortune, Quote and Comment, FactCheck.org, Politico and Le·gal In·sur·rec· tion

Ingrid Lunden / TechCrunch:

BBC Launches Localized iOS, Android Olympics Apps (Video Not Included Internationally) — The two-week countdown to the Olympics is on, and the big broadcasters are getting their ducks in line for how they will be streaming, tweeting, sharing, and generally filling your digital life with their own twists on big sporting event.

Discussion: bbc.co.uk, The Next Web, Multichannel and PC Magazine

Steve Myers / Poynter:
For AP, Olympics are the Olympics of news coverage

Discussion: Associated Press and ap.org

Salvador Rodriguez / Los Angeles Times:
NBC launches Olympics apps; one will stream every single event

Discussion: Forbes Real Time and CNET

Amy Chozick / Media Decoder:

News Corp. Said to Be Deciding Fate of The Daily — News Corporation is deciding the fate of The Daily, the tablet publication that just over a year ago Rupert Murdoch, the company's chairman and chief executive, introduced as a digital savior of the printed news industry …

Discussion: Gawker, Deadline.com, FishbowlNY, The Huffington Post and The Wall Blog

Derek Thompson / The Atlantic Online:

The End of TV and the Death of the Cable Bundle — People have been predicting the demise of cable television for years. After this week, they might be right. — Two small pieces of news yesterday could make for a big headache for TV. — First, Viacom yanked its 19 channels …

Discussion: Forbes Real Time and Erik Wemple

Jeff Bercovici / Forbes Real Time:
Viacom and DirecTV Are Both Right, But DirecTV Is Righter

Discussion: Softpedia News, Home Media Magazine and Broadcasting & Cable

Lucia Moses / Adweek:

Publishers' Online Headache — With mobile devices, magazines have more ways than ever to distribute their content—and more ways of getting ripped off. — Like the music and movie businesses before them, magazines are getting their own taste of piracy with the spread of tablets and handheld mobile devices.

Discussion: eMedia Vitals

Chris Roush / Talking Biz News:

Dow Jones buys remaining 40 percent stake in WSJ's Japan site — Dow Jones & Co. announced Friday that it has acquired the 40 percent stake of its Japanese language site for The Wall Street Journal that it didn't already own from its business partner. — Following completion of the acquisition …

Discussion: FishbowlNY, MarketWatch, Wall Street Journal and MediaPost

Al Tompkins / Poynter:

How Open Records law would have stopped sex abuse sooner at Penn State — The Freeh report on the Jerry Sandusky Penn State sex abuse scandal makes many recommendations on how the whole rotten mess might be avoided in the future, including transforming the very culture of the university.

Discussion: MarketWatch, PennLive.com and IRE.org