Mediagazer: When a news executive sits on a bank's board (Ryan Chittum/CJR)

3:05 AM ET, July 25, 2012

Top News:

Charlie Warzel / Adweek:

Fast Chat: Erik Martin on Reddit's Coverage of the Aurora Theater Massacre — In the immediate aftermath of the Aurora theater shooting social news and community site Reddit quickly became a prominent resource for coverage. Well before most awoke on Friday morning, 18-year-old Redditor Morgan Jones …

Thanks:@cwarzel

Michael Barthel / Salon:

Hold the Reddit hype — The site broke important Aurora news, but “crowdsourced” journalism is as sensational and market-driven as the MSM — As you will know if you are a person on the Internet, a lot of the most important details about the shooting in a Colorado movie theater last Friday have come out through the Internet.

Peter Kafka / AllThingsD:

Netflix Hits Its Q2 Numbers, A Little Light on Subscribers — A first look at the Netflix Q2 numbers: Earnings of 11 cents a share on revenue of $889 million. The street was expecting five cents per share and $889 million. At least as important, though, are the video service's subscriber numbers.

Discussion: paidContent, CNET, Home Media Magazine, Forbes, TechCrunch, Engadget, The Verge, VentureBeat, Media Money …, MarketBeat, Media Decoder and Business Insider

Bloomberg:

Netflix Returns To Profitability; Olympics To Hurt New Signups — Netflix Posts 2Q Profit, Tops Estimates — Netflix Inc. (NFLX), the world's largest video-subscription service, returned to profitability in the second quarter. The shares fell 11 percent in extended trading after the company …

Erik Wemple:

Aurora shootings: Was Brian Ross's mistake evidence of bias? — Last Friday, amid a newsburst regarding the Aurora, Colo., shootings, ABC News Chief Investigative Correspondent Brian Ross committed the unforgivable mistake of speculating on air about the identity of an alleged mass murderer.

Discussion: Fox News and NewsBusters.org blogs

Alex Weprin / TVNewser:
Colorado Shooting: Cable News a Destination For Viewers Looking For The Latest

Discussion: Reuters, FishbowlDC, Chickaboomer, TVSpy and Washington Post

Tracie Powell / Poynter:
Denver Post covering Colorado shooting without a copy desk

Discussion: Poynter and Politico

Chris Dixon:

BuzzFeed's strategy — BuzzFeed's CEO, Jonah Peretti, recently sent out an email to employees and investors summarizing the company's strategy and progress. I really liked his email so I asked Jonah if I could blog it and he gave me permission. This isn't just the usual cheerleading email …

Discussion: @michaelroston, @dylanbyers, @peretti and Business Insider

Joe Pompeo / Capital New York:

At ‘Daily News,’ staffers gather hoping to hear Colin Myler's vision for the paper — Colin Myler's first half-year at the helm of the Daily News has seemed, from the outside, relatively subdued. — With his name still entangled in the U.K. phone-hacking scandal for which there appears …

Discussion: Capital New York

Joe Pompeo / Capital New York:
‘Daily News’ fires political editor Ian Bishop on eve of 2012 conventions

Discussion: FishbowlNY

Joe Pompeo / Capital New York:
‘Daily News’ hires Alexander Hitchen, ‘Enquirer’ reporter who broke the John Edwards-Rielle Hunter scandal wide open

Discussion: FishbowlNY

Ravi Somaiya / New York Times:

Two Ex-Editors for Murdoch to Be Charged for Phone Hacking — LONDON - British prosecutors said Tuesday they will charge the Prime Minister's former director of communications Andy Coulson, the former head of Rupert Murdoch's British newspaper business Rebekah Brooks and six others with …

Mark Sweney / Guardian:
Phone hacking: who's been charged?

Discussion: PBS and @davidleigh3

Ian Burrell / The Independent: Day of reckoning over phone hacking will see most of News International's former hierarchy in the dock

Forrest Wilder / The Texas Observer:

Washington Post Reporter Allows College Officials to Alter Story on Controversial Test — Reporter breaks journalistic convention by sharing entire drafts with ‘customers’ in University of Texas press office. — In February, Daniel de Vise, a reporter for the Washington Post …

Glenn Peoples / Billboard.Biz:

Business Matters: How Spotify's First Year Compares to Pandora, Vevo, YouTube and Others — How Does Spotify's First Year Stack Up? — Spotify's tenure in the U.S. has reached one year. Is the performance good, bad or mediocre? See how the service compares to other segments and players in digital music.

Associated Press:

Vatican newspaper getting wider distribution in US — VATICAN CITY (AP) — Vatican newspaper L'Osservatore Romano says it is starting a new distribution deal in the United States, in the hope of broadening its English-language readership base and getting editions to subscribers faster.

Rachel McAthy / Journalism.co.uk:

Associated Press updates Twitter and Facebook guidelines — The news agency has updated its social media guidelines to say as long as journalists have informed the newsdesk of big breaking news they are allowed to tweet about it — The Associated Press has updated its social media guidelines …

Discussion: Crikey, Poynter and ap.org

Jim Romenesko:

Bloomberg News: We don't allow sources to have ‘quote approval’ — A memo to Bloomberg staffers reminds them “it is totally appropriate to negotiate with a news source to get something initially said on background moved on-the-record, so it can be used in a story” but “what isn't fine …

Discussion: Politico, American Journalism Review and Erik Wemple

Ryan Chittum / CJR:

When a news executive sits on a bank's board — The FT Group's Fairhead is a director of troubled HSBC — It's unusual—rare, even—for the CEO of a major financial news and information concern to serve on the board of directors of a giant global bank. — There's a reason for that.

Josh Gerstein / Politico:

CIA leak case may not spare reporters — Journalists may still wind up embroiled in the criminal case against a former CIA officer accused of leaking the identities of other CIA personnel, notwithstanding the prosecution's indication that it won't put the reporters who allegedly received the leaks on the witness stand.

Andrew Beaujon / Poynter:

Baton Rouge Advocate moving into New Orleans — The Baton Rouge Advocate is expanding into New Orleans as its hometown paper The Times-Picayune has announced plans to cut staff and print frequency. “From the moment that they announced that they were going to a three-day-a-week newspaper …

Discussion: Baton Rouge news …