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6:20 PM ET, May 11, 2016

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 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 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 …
RELATED:
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 …
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
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
Paul Dallison / Politico:
Bloomberg gave $362,000 to keep Britain in European Union  —  BRUSSELS — Media giant Bloomberg gave $361,675 to the campaign fighting to keep Britain in the European Union, according to a watchdog that regulates election financing.  —  The donation, which the Electoral Commission listed as being in cash …
Discussion: @miriamelder
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 …
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 …
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.
Oliver Roeder / FiveThirtyEight:
USA Today and Gannett sever ties with Timothy Parker, crossword puzzle editor accused of plagiarism  —  USA Today has permanently severed ties with the longtime editor of its crossword puzzle, Timothy Parker, after allegations of plagiarism by Parker were investigated by FiveThirtyEight.
 
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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: 
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:

Andy Greenberg / Wired:
Cisco details a hacking campaign that penetrated multiple governments' networks using two zero-day flaws in its VPN and firewall Adaptive Security Appliances

Cheng Ting-Fang / Nikkei Asia:
TSMC unveils a new chip manufacturing technology called A16, and says the company plans to start producing its ultra-advanced 1.6nm chips by 2026

Ben Glickman / Wall Street Journal:
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024
 
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