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7:10 PM ET, May 11, 2016

Mediagazer

 Top News: 
Shan Wang / Nieman Lab:
Knight Foundation report: users spend 5% of mobile time on news sites and apps, Reddit users spend five times as much time in Reddit app than any other news app  —  People read the news on their smartphones (duh).  They will even read longform (to a certain extent).
Ellen Emmerentze Jervell / Wall Street Journal:
Axel Springer Q1: revenue up 4.6% to €783.4 adjusted, digital contributed to 67% of earnings, profit up to €203.2M  —  Italy's Mediaset and France's JC Decaux report disappointing results  —  FRANKFURT—Shares in Axel Springer SE fell sharply Wednesday despite it reporting …
RELATED:
Ellen Emmerentze Jervell / Wall Street Journal:
Axel Springer CEO Mathias Döpfner wants to become the leading US digital publisher; company now has minority stake in 12 companies  —  Chief Executive Mathias Döpfner wants company to become the No. 1 digital publisher in every market it enters  —  BERLIN—German media giant Axel Springer SE …
Reuters:
German court rejects Turkish president Erdogan's request to ban Axel Springer CEO Mathias Doepfner from repeating derogatory term; appeal possible
Peter Kafka / Recode:
Local news startup Ripple apologizes for taking other people's news  —  Information doesn't want to be that free.  —  Yesterday we told you about Ripple, the startup that wants to deliver local news but doesn't create the news itself.  —  Today several publications that are in the the business …
Discussion: @laurahazardowen
RELATED:
Peter Kafka / Recode:
Ripple.co launches out of beta, 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 …
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:
Mădălina Ciobanu / Journalism.co.uk:
Seven months after launch, El Español finds it challenging to pursue both high traffic and subscriptions  —  Web traffic to the crowdfunded media outlet is higher than expected, says co-founder María Ramírez, but subscriptions are not keeping up  —  Credit: Screenshot of El Español
Paul Resnikoff / Digital Music News:
Sources: Apple planning to end iTunes music downloads in the next 2 to 4 years  —  Apple is preparing to abandon music downloads.  —  Apple is now preparing to completely terminate music download offerings on the iTunes Store, with an aggressive, two-year termination timetable actively being considered and gaining favor.
Sahil Patel / Digiday:
Hearst plans Snapchat Discover pop-up channels for Seventeen, Elle, and Harper's Bazaar  —  Snapchat users perusing the app's Discover section the last three weeks might have periodically noticed a prom-themed channel pop up from Hearst-owned Seventeen magazine.
Discussion: @mattnavarra and FishbowlNY
Alastair Reid / First Draft News:
Reuters study: 24% of UK journalists say publishing unverified info is sometimes justified  —  One in four UK journalists believe it is “justified” to publish unverified information, according to new research from the Reuters Institute for the Study of Journalism.
Discussion: Reuters Institute …
 
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 More News: 
Paul Dallison / Politico:
Bloomberg gave $362,000 to keep Britain in European Union
Discussion: @miriamelder
Oliver Roeder / FiveThirtyEight:
USA Today and Gannett sever ties with Timothy Parker, crossword puzzle editor accused of plagiarism
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
AAP:
Fairfax and APN confirm they are in preliminary discussions to merge their New Zealand operations by year end
 Earlier Picks: 
Jacob Pramuk / CNBC:
Disney reports Q2 earnings of $1.36 a share, below estimates, and $13B in revenue; stock down over 5%
Chris Welch / The Verge:
ESPN settles lawsuit with Verizon over ‘skinny’ FiOS cable bundle
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
 

 
From Techmeme:

Foo Yun Chee / Reuters:
Sources: EU may accept Apple's proposal to open its NFC payments tech to rivals, and may close its antitrust probe in May, letting Apple avoid hefty fines

Gaby Del Valle / The Verge:
The US Senate reauthorizes FISA's Section 702; some communication service providers had threatened to stop cooperating with the US government in case of a lapse

George Steer / Financial Times:
Nvidia closed down 10% on Friday, falling the most since March 2020 and losing more than $200B of its market value, as investors pull back from AI bets
 
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