Mediagazer: Reddit Live is now official, lets anyone create their own breaking news live blog (Nick Summers/The Next Web)

4:40 PM ET, July 23, 2014

Top News:

Tom Wallace and John Bellando out in big Condé Nast executive shuffle — Condé Nast chief operating and financial officer John Bellando and editorial director Thomas Wallace are exiting the company, C.E.O. Chuck Townsend told staff this morning in a memo obtained by Capital.

Discussion: Folio, Media & Entertainment, MediaWire Daily, AdAge, WWD Media Headlines, Poynter, New York Magazine, Digiday and FishbowlNY

Nick Summers / The Next Web:

Reddit Live is now official, lets anyone create their own breaking news live blog — Today, Reddit officially launched its own live-blogging platform. The company calls it Reddit Live and the feature has actually been in “semi-open beta” for a few months now - you may have stumbled across …

Discussion: Daily Dot, Mashable, @mattnavarrauk and The Inquisitr News

Áine Kerr / Storyful Blog:

Mandy Jenkins joins Storyful as Editor of the Open Newsroom — We are proud to announce that Mandy Jenkins is joining Storyful as Editor of the Open Newsroom. — Jenkins, formerly of Digital First Media's Project Thunderdome and the Huffington Post, will help to oversee the highest standards …

Discussion: @jeffjarvis and @craigsilverman

Rick Edmonds / Poynter:

If Gannett is a bellwether, 2014 will be another tough year for newspaper advertising — Since the Newspaper Association of America stopped reporting quarterly revenue results last year, I have looked at Gannett's numbers as a reasonable proxy for the industry.

Discussion: bizjournals, RTTNews, Guardian, Des Moines Register, NetNewsCheck Latest, CNBC, TVSpy, Broadcasting & Cable, Radio & Television … and Wall Street Journal

Alexia Tsotsis / TechCrunch:

Kumo Is Raising $50 Million To Break The TV Bundle — Despite Aereo's trouble in the Supreme Court, the hope of disrupting the TV industry is still alive in the tech world. — A new startup led by Aol and Dish veteran Neil Davis is in the process of raising $50 million to fill that void.

Peter Kafka / Re/code:

Chernin and AT&T Set to Buy Control of Fullscreen YouTube Network — Fullscreen, the YouTube network that has been talking to prospective buyers for months, is ready to make a deal. Sources familiar with the company say it is finalizing a deal to sell a majority stake to Otter Media …

Discussion: The Wrap, Gigaom and Variety

Joseph Lichterman / Nieman Journalism Lab:

From Grumpy Cat to Ukraine: How Mashable is expanding beyond gadgets and apps — Within minutes of the first reports that a Malaysia Airlines plane had crashed over eastern Ukraine Thursday, Mashable had live coverage up and running. Its real-time news staff in New York was updating the post …

Discussion: @fionaspruill, @jamescuff, @thebeff, The New York Observer, @niemanlab and @lheron

Associated Press:

Afghan Officer Charged With Killing AP Photographer Receives Death Sentence — KABUL, Afghanistan (AP) — A Kabul court announced Wednesday that the Afghan police officer charged with killing Associated Press photographer Anja Niedringhaus and wounding veteran AP correspondent Kathy Gannon has been convicted and sentenced to death.

Discussion: Poynter

Rolfe Winkler / Wall Street Journal:

YouTube Music's Head Quits, a Setback to Paid Service — The head of YouTube's effort to launch a music subscription service is leaving, marking yet another hurdle for the long-delayed project. — Chris LaRosa, YouTube's product manager in charge of music, will be leaving Google this Friday to join a startup.

Discussion: Daily Dot, 9to5Google, hypebot, @wsjd, Tubefilter, AndroidHeadlines.com, @jherskowitz, SocialTimes and Android Police

Wall Street Journal:

WSJ Takes Some Computer Systems Offline After Cyber Intrusion — Publisher Investigating Hacker's Claims; No Evidence Customer Data Affected — Computer systems housing The Wall Street Journal's news graphics were hacked by outside parties, according to Journal publisher Dow Jones & Co.

Discussion: ZDNet, VPN Creative, The Register, Phys.org, @gregoryjmillman, FishbowlNY, International Business Times, Computing, Consumerist and Reuters

Variety:

Variety Produces First Virtual Reality Red Carpet Coverage — Jaunt VR teams with magazine for ‘Guardians of the Galaxy’ premiere video — Variety became the first news outlet to produce virtual reality video coverage of a red carpet premiere Monday night, teaming with VR technology provider Jaunt …

Stacey Higginbotham / Gigaom:

The FCC reminds ISPs they can't mess with broadband without telling the consumer — Attention, ISPs who have vague terms of service or promise one thing and then fail to deliver: The FCC is keeping an eye on you. — The Federal Communications Commission issued a reminder today to ISPs …

Discussion: Multichannel News, USA Today, DSLreports and cir.ca

Keach Hagey / Wall Street Journal:

Fox's Debt Key in Time Warner Bid — Ever since his News Corp survived a bruising liquidity crisis in the early 1990s, Rupert Murdoch has been careful to avoid getting overextended financially. But his pursuit of Time Warner Inc. could test that philosophy.

Discussion: Hollywood Reporter, Motley Fool, Los Angeles Times, @miriamgottfried and @edmundlee