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6:05 PM ET, May 5, 2021

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 Top News: 
Oversight Board:
Facebook Oversight Board upholds Trump's suspension, but asks Facebook to review the decision within six months to determine a penalty consistent with its rules  —  The Board has upheld Facebook's decision on January 7, 2021, to restrict then-President Donald Trump's access to posting content on his Facebook page and Instagram account.
Discussion: About Facebook, Columbia Journalism Review, @oversightboard, Pew Research Center, CNBC, Axios, Mediaite, New York Times, Mediaite, Washington Post, New York Times, @nick_clegg, @issielapowsky, USA Today, Ad Age, The Daily Beast, The Wrap, The Verge, Bloomberg, @cnbc, CNN, @hawleymo, @thelastword, Reuters, Ed Zitron's Where's Your Ed At, Brookings, The Atlantic, CNBC, Wired, Politico, @jaketapper, @jeffjarvis, @mikeisaac, The Guardian, Scroll.in, Protocol, @owenthomas, @slpng_giants, @brianstelter, Insider, @oliverdarcy, @jeffbercovici, @yashar, @donie, @kurtwagner8, @brandyzadrozny, @ceciliakang, Vanity Fair, @jonathanvswan, @base10, @alexhern, @jeffjarvis, Los Angeles Times, @mikeisaac, @digiphile, @repadamschiff, @robertmooreitv, @jamesrbuk, @sarafischer, @ceciliakang, @dylanbyers, @bplewis, MediaPost, @blakereid, CyberDisobedience, @caseynewton, @jason_kint, @adamserwer, @garettsloane, @mikeisaac, @tonyromm, AppleInsider, @chriswelch, TechCrunch, @kurtwagner8, @zaleskiluke, @frankpallone, @silvermanjacob, @jimsciutto, @jess, @joannastern, @lawrencehurley, @mtracey, @johnlegere, @jason_pontin, @chrislu44, Wall Street Journal, @cnbc, The Guardian, Vox, @keithedwards, @jonathanvswan, Gizmodo, @meridithmcgraw, @samuelstolton, @naacp, The Guardian, @cwarzel, MIT Technology Review, @dylanbyers, New York Post, Media Matters for America, @goangelo, @usatoday, @kurtwagner8, @can, @jason_pontin, @shiraovide, @stevedeaceshow, @mikeisaac, @arusbridger, @karaswisher, @jeffbercovici, @eschulze, @jeffjarvis, @broderick, @jayrosen_nyu, MediaNama, Boing Boing and Fast Company, more at Techmeme »
RELATED:
Margaret Sullivan / Washington Post:
The Oversight Board's decision on Trump's Facebook ban failed to send a clear message that a powerful public official can't use Facebook to endanger the public  —  In more than 1,400 posts from Jan. 1, 2020 and Jan. 6, 2021, Donald Trump used Facebook to spread false information with devastating consequences for the country.
Politico:
After teasing a new social media platform, Trump debuts a new section on his website that's effectively a blog
Katharine Viner / The Guardian:
On the Guardian's 200th anniversary, its EIC lays out her vision for the newspaper in its third century and what role media can play in a post-pandemic world  —  On the Guardian's 200th anniversary, our editor-in-chief sets out how media can help rebuild a better world beyond Covid
Larry McShane / New York Daily News:
A New York Daily News reporter asks for a committed New York City owner to rescue the newspaper from “visiting vulture” Alden Global Capital  —  Like any good tabloid headline, it's simple, snappy and succinct: DAILY NEWS NEEDS NEW OWNER.  —  And not just any owner: a New York owner …
RELATED:
Edmund Lee / New York Times:
NYT added 301K digital subscribers in Q1, the slowest gain in over a year, for a total of 6.9M digital subs and 7.8M total subs, with profit up 54% YoY to $68M  —  The publisher added 301,000 digital subscribers for the first quarter, the slowest gain in over a year.  Profits jumped, beating Wall Street expectations.
Shoshana Wodinsky / Gizmodo:
Signal says Facebook shut down its ad account over an Instagram ad campaign that showed the user data Facebook used in targeting the ads  —  A series of Instagram ads run by the privacy-positive platform Signal got the messaging app booted from the former's ad platform, according to a blog post Signal published on Tuesday.
Christopher Palmeri / Bloomberg:
Fox Corporation beats analyst estimates with Q3 revenue of $3.22B, down about 6.5% YoY; ad sales for the unit including Fox News fell almost 7% to $283M  —  - Company hosted the Super Bowl last year, hurting comparisons  — Ad sales fell at cable unit, with fewer Fox News viewers
RELATED:
Joe Flint / Wall Street Journal:
Fox says it will acquire right-leaning sports outlet Outkick Media, founded by Clay Travis, who has extensive Fox ties through radio and cable appearances  —  Deal announced as Fox reports a 6.5% drop in revenue for the March quarter  —  Fox Corp. said it agreed to acquire Outkick Media …
Discussion: Variety and The Wrap
Brad Stone / Bloomberg:
How Jeff Bezos beat the National Enquirer by casting himself as a sympathetic defender of the press fighting a political conspiracy by AMI and Trump's allies  —  When a gossip rag went after the CEO, he retaliated with the brutal, brilliant efficiency he used to build his business empire.
Thomas Seal / Bloomberg:
Former Dow Jones CEO Will Lewis launches The News Movement, an outlet focused on delivering objective news to mass audiences on social media  —  - Will Lewis venture aims to tackle misinformation crisis  —  A former chief executive officer of the Dow Jones financial news service, Will Lewis …
Rebecca Rubin / Variety:
Netflix will release upcoming zombie thriller Army of the Dead at 200 Cinemark locations before streaming debut, its first wide release at a major theater chain  —  Netflix and movie theaters are finally playing nice — and all it took was a global pandemic to turn these antagonists into friends.
Damien Wilde / 9to5Google:
YouTube says Shorts, its TikTok rival, will roll out to all US-based creators next week, after testing in beta in March  —  YouTube is vigorously pushing Shorts with the TikTok short-form video competitor within the main platform now available and rolling out to all US-based creators.
Sarah Scire / Nieman Lab:
Scroll's 13-person team will work on integrating the product into a Twitter subscription service; a Twitter team hopes to build the best of Nuzzel into Twitter  —  But we have bad news.  The acquisition means that the handy news aggregator Nuzzel will be shut down.
RELATED:
Dieter Bohn / The Verge:
Twitter buys Scroll, the $5/month service that removes ads from partner news sites; Scroll's Nuzzel email service will shut down on May 6
 
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 More News: 
Neal Rothschild / Axios:
Study: daily social media interactions on stories about Trump fell from ~49M in early Jan. to ~2M by March, thanks largely to no Trump tweets for media to cover
Veronica Villafañe / Forbes:
ViacomCBS' Pluto TV Latino expands to 45+ channels in the US, adding more news programming and rebranding as Pluto TV En Español
Mark Stenberg / Medialyte:
Q&A with The Daily Beast's Maxwell Tani about independent and regional media, newsroom drama, and Insider's memo labeling his retweets as insignificant
 Earlier Picks: 
Taylor Lorenz / New York Times:
Profile of MrBeast, the most subscribed YouTuber in the US, who took a bumpy road to fame through stunt philanthropy, as he branches out into other businesses
Michael M. Grynbaum / New York Times:
Yamiche Alcindor, the White House correspondent for PBS NewsHour and once a frequent target of Trump's ire, will become host of the PBS show Washington Week