Mediagazer: Cuts at the New York Observer (Erik Maza/WWD)

6:05 PM ET, April 5, 2013

Top News:

Jeff Bezos Invests in Business Insider — Jeff Bezos has invested in Business Insider, according to an internal memo we have just obtained. Here's the memo from Business Insider CEO and Editor-in-Chief Henry Blodget: Team, I wanted to share the details of the financing we mentioned last night.

Discussion: GigaOM, AllThingsD, Forbes, VentureBeat, Poynter, Media & Entertainment, CNET, Quartz, Guardian, Betabeat, @ivanthek, The Next Web, @choire, @mathewi, @djbentley, Gawker, @tcarmody, @rafat, ZDNet, VatorNews, 24/7 Wall St., GeekWire and Talking Biz News, Thanks:@max8378

Edmund Lee / Bloomberg:

Amazon's Jeff Bezos Invests in Blodget's Business Insider Site — Business Insider Inc., the business- news site co-founded by former Internet analyst Henry Blodget, raised $5 million in venture capital from investors led by Amazon.com Inc. (AMZN) Chief Executive Officer Jeff Bezos.

Discussion: Felix Salmon, Business Insider, The Wrap, AdExchanger, www.wnyc.org, @nicknotned, Businessweek, Mashable and TechCrunch

Kevin Roose / New York Magazine:

Meet Twitter's Newest Clique: Bloomberg's Terminal Tweeters — Until this week, many Wall Street bankers and traders had no access to Twitter. Despite the fact that Twitter is now where lots of breaking news (including today's jobs day numbers) happens first, most big banks shut off access …

Discussion: The Atlantic Wire, Betabeat, AllThingsD, DealBook and ZDNet

Zachary M. Seward / Quartz:

BLS tweet beats everyone on today's jobs figure — Every month, when the US jobs report is announced, journalists race to tweet the number as fast as they can. Many investors, meanwhile, pay lots of money for fast access to the data so they can trade on the reaction.

Discussion: Daily Download and @bobbymacreports

Alex Weprin / TVNewser:

CNN Looking To Revive ‘Crossfire’ — CNN is looking to bring back “Crossfire,” TVNewser hears. The long-running political debate show was canceled in 2005. — It isn't entirely clear what time the program would air, though we hear it would likely be a 30-minute format.

Erik Maza / WWD:

Cuts at the New York Observer — OBSERVER CUTS: The New York Observer laid off 11 people from the business side of its overall media group on Friday, it said, as part of a reorganization of its sales team. — They are the most significant cuts at the weekly since June 2009 …

Andrew Beaujon / Poynter:

Report: U-T offered ad discounts to causes owner favored — KPBS — U-T San Diego offered discounts to some political candidates in 2012, potentially violating federal, state and local laws, Ryann Grochowski and Amita Sharma report. — U-T CEO John Lynch told the reporters the ads were sold …

Discussion: KPBS San Diego

Hollywood Reporter:

THR Launches Entertainment-Tech Blog ‘Behind the Screen’ — Contributing editor Carolyn Giardina will edit the blog, which covers everything from the key players to the disruptive technologies behind films, TV and mobile content. — The Hollywood Reporter has launched Behind the Screen …

Discussion: FishbowlLA

Paul Sloan / CNET:

For labels, Apple's iRadio deal could be sweeter than Pandora — Apple is close to a deal with two major music labels to bring to life its streaming music service, which could pay labels better than Pandora does. — Apple is close to striking a streaming deal with two of the major music labels …

Discussion: Nokia Conversations, Deadline.com, Forbes, TechSpot, VentureBeat, BGR, FierceMobileContent News, Ubergizmo, App Advice, Softpedia News, Mashable, The Next Web, AppleInsider and MacRumors

Tracie Powell / Columbia Journalism Review:

Next FCC chairman will impact journalism — Why journalists should care who succeeds Julius Genachowski — Federal Communications Commission Chairman Julius Genachowski announced last month that he was stepping down, and journalism advocates have since been lining up to voice opinions …

Discussion: The FJP

Joe Pompeo / Capital New York:

Longreads partners with ‘The Atlantic’ — Longreads, the long-form journalism aggregator founded by Mark Armstrong in 2009, has a struck a partnership with The Atlantic. — Under the terms of the collaboration, The Atlantic's sales team will begin selling ads against the Longreads platform.

Discussion: Longreads, Adweek, FishbowlDC and paidContent

Josh Sternberg / Digiday:

Is Amazon the Sleeping Giant of Media? — Slowly but surely, Amazon is inching towards becoming a full-out media company. — Amazon began selling ads six years ago. But through its Amazon Media Group, it now offers brands and agencies display ads across its owned and operated sites …