Mediagazer: Susan Wojcicki built Google into a $55B advertising giant. Now she's running YouTube. Her job: do it again. (Nicole LaPorte/Fast Company)

6:20 PM ET, August 5, 2014

Top News:

Fox Withdraws Proposal To Buy Time Warner — And Time Warner Shares Are Crashing — Fox has withdrawn its plans to purchase Time Warner, according to an announcement the company made Tuesday. — Time Warner shares are down 11% post-market on the news. — Reports of an original proposal …

Discussion: Business Wire, Adweek, The Wrap, New York Times, @alansmurray, Reuters, Re/code, @suzywelch, @bloombergtv, @edmundlee, @markymarcelus and @brianstelter

Jonathan Mahler / New York Times:
Time Warner Rebuff of Fox May Not Just Be Negotiating Ploy

Discussion: The New York Observer, New York Magazine, mUmBRELLA, @adamostrow, @brianstelter, @emilysteel, @poniewozik, Re/code and New Yorker

Ryan Grim / The Huffington Post:

A US spy agency stole a scoop from The Intercept and gave it to the AP — Spy Agency Stole Scoop From Media Outlet And Handed It To The AP — WASHINGTON — The Associated Press dropped a significant scoop on Tuesday afternoon, reporting that in the last several years the U.S. government's terrorism watch list has doubled.

Natalie Jarvey / Hollywood Reporter:

Maker Studios Snags AOL, Yahoo Execs for Original Content Division (Exclusive) — The Disney-owned digital media firm has hired Gabriel Lewis and Bonnie Pan to its programming division, led by chief content officer Erin McPherson. — Maker Studios is making a significant bet on original content with two big digital media hires.

Todd Spangler / Variety:

Danny Zappin, Ousted CEO of Maker Studios, Raises $25 Million to Launch Digital Studio — Danny Zappin, who was fired as CEO of Maker Studios and unsuccessfully tried to block a shareholder vote on Disney's acquisition of the mulitchannel network he co-founded, has raised $25 million …

Discussion: Hollywood Reporter, bizjournals, Wall Street Journal, Fast Company and Los Angeles Times

Nicole Levy / Capital New York:

Time Inc. downtown move to ‘transform the cost base,’ but layoffs also likely — As an independent company since its spin-off from parent company Time Warner on June 6, Time Inc. has been thinking hard about cost-cutting measures and digital advertising. — The publisher reported …

Discussion: AdAge

Brooks Barnes / New York Times:

Disney Q3 earnings top estimates with $1.28 EPS vs. expected $1.17; revenue of $12.47B; operating income for media networks flat at $2.3B — Disney's Third-Quarter Profits Soar, on Marvel's Back — LOS ANGELES — Marvel powered Disney to a superheroic third fiscal quarter.

Discussion: Hollywood Reporter, TIME, Stocks to Watch, Variety, @jboorstin, @jboorstin and Business Insider

Alexa Davis / Forbes:

After Breakup, Gannett's Print and Broadcast Assets May Be Ripe For The Picking — Gannett Tuesday became the latest media company to separate its publishing assets, which include USA Today, from broadcast and digital businesses. The move is the latest in a string of similar actions …

Discussion: The New York Observer, Capital New York and MarketingVox News & Trends

Georg Szalai / Hollywood Reporter:
Gannett to Separate Broadcasting, Publishing Businesses Via Spin-Off

Discussion: USA Today, Gannett Company, Inc, New York Times, BuzzMachine, Gawker, JIMROMENESKO.COM, AdAge, @edmundlee, Journalism.co.uk, @jbenton, Politico, Wall Street Journal, CNNMoney.com and Bloomberg

Emil Protalinski / The Next Web:

Justin.tv shuts down after 7 years amid reports Google is acquiring Twitch — Twitch today announced that the Justin.tv website, mobile apps, and APIs are no longer in service. A very simple explanation is given for the shutdown: since rebranding the company to Twitch Interactive in February 2014 …

Discussion: Gigaom, VatorNews, Electronista, Variety and @nash076

Nicole LaPorte / Fast Company:

Susan Wojcicki built Google into a $55B advertising giant. Now she's running YouTube. Her job: do it again. — Susan Wojcicki built Google into a $55 billion advertising giant. Now she's running YouTube. Her job: Do it again. — When Susan Wojcicki took over YouTube in February …

Discussion: Business Insider

Frank Rose / Wired:

How the Smartphone Ushered In a Golden Age of Journalism — When I first — arrived in New York, some time back in the last century, I gazed in awe and fascination at subway riders reading The New York Times. Thanks to a precise and universally adopted method of folding the paper …

Discussion: @thefoodeconomy, @signored, @frankrose and @colvinius

Joe Pompeo / Capital New York:

Lauren Kern joins New York magazine as executive editor — Lauren Kern headed back to New York mag — Lauren Kern is leaving The New York Times Magazine and heading back to New York as executive editor. — She fills the vacancy created by the departure last month of longtime executive …

Discussion: FishbowlNY, @tmcgev, MediaWire Daily, Politico and Talking Biz News

Eriq Gardner / Hollywood Reporter:

Lionsgate wins restraining order against six torrent sites after “Expendables” leak; judge enables freezing of bank accounts, domain transfers — Lionsgate Granted Restraining Order Over ‘Expendables 3’ Leak — A California judge orders six torrent sites to stop distributing the Sylvester Stallone film.

Discussion: Deadline.com, EW.com and bizjournals

Todd Spangler / Variety:

Shazam Inks TV Ad Pacts with A+E, AMC, Dick Clark Productions and Others — Shazam Entertainment, whose app is best known for ID'ing songs, is making an even stronger push into American TV. — The company has struck deals with partners including A+E Networks, AMC, Dick Clark Prods. and Fuse …

Discussion: The Wrap, Hollywood Reporter, Wall Street Journal, Broadcasting & Cable and AdExchanger

Roy Greenslade / Guardian:

Russian journalist's body found after disappearance — The body of an independent Russian journalist was found in a wood the day after he had gone missing following threats from law enforcement authorities. — Timur Kuashev worked for the magazine Dosh (or Dosch) as its correspondent in Nalchik …

Discussion: @mathewi, @rorypecktrust and Human Rights Watch

Michael Calderone / The Huffington Post:

New York Times Reporter Addresses Israeli Censorship On Soldier Story — NEW YORK — Jodi Rudoren, the Jerusalem bureau chief for The New York Times, addressed the paper's decision Friday to withhold a biographical detail about an Israeli soldier at the Israeli military's request.

Discussion: New York Times and Mediaite