Reuters’ reconsiders developing their new direct-to-reader platform: In a NYT story written Wednesday by Leslie Kaufman,  she reports that Andrew Rashbass, chief executive of Reuters, announced that further development of the new platform “Next” will end immediately. Budgetary restraints and overruns were cited as reasons for ending the project. Reuters will now focus on developing local-language sites for their websites, and will utilize as much work from “Next” as they can.

Why you should read it: Not only was the anticipated “Next” project cancelled, but Jim Roberts, head of Reuters Digital, is leaving the company, saying he won’t be leaving news and stay tuned for his next move.

More on Kathie Lee being inappropriate after the jump…

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