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12:50 AM ET, May 11, 2016

Mediagazer

 Top News: 
Michael Nunez / Gizmodo:
GOP Sen. Thune sends letter to Zuckerberg asking for more details about curation of Facebook's Trending Topics; Facebook says it looks forward to cooperating  —  The US Senate Commerce Committee—which has jurisdiction over media issues, consumer protection issues, and internet communication …
RELATED:
Ben Thompson / Stratechery:
Facebook's News Feed reflects what we already like, with far more influence than curators of Trending Topics  —  I got my start writing for the student newspaper at the University of Wisconsin.1  —  What is interesting about that statement is that the appropriate follow-up question is “Which student newspaper?”
Tom Stocky / Facebook:
Facebook VP of search Tom Stocky: we found no evidence contractors manipulated Trending Topics to suppress stories of interest to conservatives  —  My team is responsible for Trending Topics, and I want to address today's reports alleging that Facebook contractors manipulated Trending Topics …
Poynter:
Poynter media ethicist Kelly McBride says Facebook has a responsibility to be more transparent about how it curates news
Kevin Draper / Gawker:
As digital sites woo advertisers, they conflate metrics for digital video viewership and traditional TV  —  We are, right now, in the midst of a digital media upheaval.  What was previously conventional wisdom—that a media company with hopes of turning a profit needs, above all, to achieve scale—is being proven false.
Jacob Pramuk / CNBC:
Disney reports Q2 earnings of $1.36 a share, below estimates, and $13B in revenue; stock down over 5%  —  Media giant Walt Disney posted quarterly earnings Tuesday that fell short of Wall Street's expectations.  —  The company reported adjusted earnings of $1.36 per share on $12.97 billion …
Casey Newton / The Verge:
Periscope makes broadcasts permanent by default and introduces search  —  It's been a month now since Facebook rolled-out a dramatically improved design for live video — a design that borrowed liberally from Twitter-owned Periscope.  Facebook's enormous audience, combined with its willingness …
Chris Welch / The Verge:
ESPN settles lawsuit with Verizon over ‘skinny’ FiOS cable bundle  —  ESPN and Verizon have resolved a legal battle that began when the popular sports network sued the FiOS provider over its unconventional “Custom TV” channel packages last year.  Verizon announced more flexible (and slimmer) …
Peter Kafka / Recode:
Ripple.co, launching out of beta today, targets big cities with news feeds and contributed posts  —  Viki founder Razmig Hovaghimian launches a “city-focused news platform.”  —  The internet is a good place to learn lots of things.  What's happening in your neighborhood is not one of them …
Discussion: @niemanlab
Patrick Thibodeau / Computerworld:
McClatchy moving IT work to India's Wipro; sources say the move affects 120-150 jobs  —  The McClatchy Company, which operates a major chain of newspapers in the U.S., is moving IT work overseas.  —  The number of affected jobs, based on employee estimates, range from 120 to 150.
Hannah Karp / Wall Street Journal:
How a presence on Beats 1, heavy promotion on iTunes, and a TV ad campaign helped Drake reach 1M album sales in a week  —  Feat is rare achievement in age of rapid streaming growth, declining sales of downloads and CDs  —  Hip-hop star Drake sold more than one million copies of his new album …
Discussion: Fortune, AppleInsider and MacRumors
Todd Spangler / Variety:
Amazon unveils Amazon Video Direct, open to any video creator, with four ways to earn money: per-hour royalty, add-on subs, digital rent/sale, or ad-supported  —  Initial partners include Conde Nast, Samuel Goldwyn Films, Machinima, StyleHaul  —  Amazon, which touts itself as Earth's biggest store …
Christopher Williams / Telegraph:
Channel 4 escapes privatisation after Downing Street intervention  —  Channel 4 will escape full privatisation following an intervention from Downing Street, The Daily Telegraph understands.  —  A series of other major reforms of the state-owned broadcaster remain under consideration, however, senior Government sources revealed.
Discussion: Guardian, C21Media, Politico and Guardian
 
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 More News: 
Jasper Jackson / Guardian:
Online petition to fire BBC political editor Laura Kuenssberg taken down after it draws abusive and misogynistic language
Hamza Hendawi / Associated Press:
Egypt arrests 4 members of a street satirical group
Discussion: BBC
 Earlier Picks: 
Michael Calderone / The Huffington Post:
The Atlantic's Jeffrey Goldberg and AI Monitor's Laura Rozen dispute article in The New York Times Magazine claiming they helped “retail” US-Iran nuclear deal
Brian Stelter / CNNMoney:
Founders of Philadelphia's Billy Penn to launch a site in Pittsburgh by end of summer, using recent Gannett investment
 

 
From Techmeme:

Bailey Lipschultz / Bloomberg:
SpaceX raises $75B in the biggest-ever IPO, pricing 555.6M shares at $135 each, giving it a market value of $1.77T

Zaheer Kachwala / Reuters:
Adobe reports Q2 revenue up 13% YoY to $6.62B, vs. $6.46B est., and raises its annual forecasts; CFO Dan Durn is leaving for Marvell; ADBE drops 5%+ after hours

Dan Primack / Axios:
Jeff Bezos' Prometheus, which is building AI models for physical tasks, raised a $12B Series B at a $41B valuation, following a $6.2B Series A

 
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