Morning Media Newsfeed 05.14.12
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Yahoo!'s Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion (AllThingsD)
Yahoo!'s embattled CEO Scott Thompson is set to step down from his job at the Silicon Valley Internet giant, in what will be dramatic end to a controversy over a fake computer science degree that he had on his bio. WSJ Before resigning as chief executive of Yahoo! Inc. over the weekend, Thompson disclosed to the company's board of directors and several colleagues that he has been diagnosed with thyroid cancer. NYT / DealBook Thompson, who left amid a continuing inquiry into his academic credentials, will be replaced on an interim basis by Ross Levinsohn, Yahoo!'s global head of media, the company said on Sunday. Fred Amoroso, the director in charge of an internal inquiry into Thompson's record, will become the company's new chairman. Adweek In addition to Thompson's departure, Yahoo! said it has settled the proxy fight with its largest outside shareholder, Third Point. The activist hedge fund had recently been clamoring for Yahoo! to shake up its board -- offering its own nominees as replacements. Per the agreement announced on Sunday, three of Third Point's nominees -- its CEO Daniel Loeb, MAEVA group chairman and CEO Harry Wilson and former MTV Network president and COO Michael Wolf -- join Yahoo!'s board as of May 16. AdAge / Digital Yahoo! has been under pressure after Loeb revealed earlier this month that Thompson did not earn a computer-science degree, as listed in his bio. Since then, Yahoo! has been in full damage-control mode, and the board member who led the CEO selection process, Patti Hart, said last week that she wouldn't seek re-election. Loeb also accused Hart of inflating her credentials. paidContent Levinsohn, appointed Sunday as interim CEO, doesn't have to learn Yahoo! -- he's spent the last 18 months immersed in it. TheWrap.com Levinsohn wrote a memo to his staff on Sunday seeking to calm the waters in the wake of the stunning exit of CEO Thompson. "Today's announcements lay to rest the unfortunate and serious distractions surrounding our senior leadership and the composition of our Board going forward," wrote Levinsohn. AllThingsD Now one of the big questions is: Will Levinsohn take steps to repair Yahoo!'s relationship with Facebook, especially since it has proved to be one of the most fruitful the ailing Silicon Valley Internet giant has seen in years? GigaOM Thompson may be out, but Yahoo! is still a mess. Forbes / Tech And China So where does Levinsohn begin? I think he's got three phone calls on his to do list for Day One.
Newseum Adds 72 Names To Journalists Memorial (TVNewser)
Sunday morning, the Newseum rededicated its Journalists Memorial, which honors reporters who died or were killed in the pursuit of news.
Obama Named 'The First Gay President' On Newsweek Magazine Cover (New York Daily News)
In the battle for most controversial cover of the week, Newsweek fired back at Time magazine's now-infamous breastfeeding mom image by putting President Barack Obama under a rainbow halo with the tagline "The First Gay President." HuffPost The media world wondered how Newsweek/The Daily Beast chief Tina Brown, a magazine editor known for her controversial covers, planned to celebrate the historical announcement. Yahoo! News / The Ticket The New Yorker, which is also out with a cover story on gay marriage, took a bit more subtle approach with its May 21 issue.
Rock Center Is On NBC's Fall Schedule (TVNewser)
Great news for fans of NBC's primetime newsmagazine Rock Center with Brian Williams: The program is on the network's fall schedule which was just announced Sunday afternoon, and will be formally unveiled at Monday's upfront. LA Times / Show Tracker Not only is the show coming back, it is even getting a promotion of sorts. Currently on Wednesday nights at 9 p.m., Rock Center is moving to Thursdays at 10 p.m., a more important time slot because movie companies and auto dealers spend heavily on that night.
Facebook Gets Earful On How To Spend IPO Cash (Adweek)
With Facebook expected to go public this Friday, May 18, Mark Zuckerberg is already getting an earful from Wall Street about what he needs to do to boost earnings.
What The Web Could Learn From Dawn Of TV (AdAge / Digital)
Creators and distributors of Web video have decided that the best way to transfer TV advertising dollars to the Web is to transfer TV's advertising model -- or at least parts of it -- to the Web. But the predominant model for made-for-the-Web content is one that TV abandoned decades ago: single sponsorship, in which content is created for an advertiser underwriting the cost.
Barry Diller's Latest Effort To Torch The Tube (NY Mag)
High in the Frank Gehry-designed IAC building on the West Side Highway, floor-to-ceiling windows flood the offices with blinding sunlight in the afternoon, which is when Barry Diller takes a seat to answer some questions.
From Public TV, A New Site For 50-Somethings (NYT / Media Decoder)
Add public broadcasters to the media outlets aiming for the 50-plus crowd: a website called Next Avenue will go live on Tuesday, a year after first planned, with original and aggregated journalism directed at baby boomers.
Osberg Steps Down As Philadelphia Media Network CEO (Philadelphia Inquirer)
Gregory J. Osberg stepped down as publisher and chief executive of Philadelphia Media Network on Friday afternoon, less than six weeks after the company was purchased by a group of local owners. NYT / Media Decoder He will be replaced by the chief operating officer, Robert J. Hall, who will become publisher and chief executive. Osberg will reportedly remain as an adviser on digital issues. Poynter / MediaWire Shortly after Osberg took over, he demoted Philadelphia Inquirer editor Bill Marimow, who later left for Arizona State University. The local owners brought Marimow back; he just finished his second week.
Of Course You Can Trust Us -- We're Google! (Adweek)
What, exactly, is YouTube selling?
Jann Wenner: Why We're Putting Us Weekly On The iPad (AdAge / MediaWorks)
Wenner Media plans to introduce an iPad edition of Us Weekly this Thursday, almost a year after Jann Wenner said magazines were rushing to the iPad out of "insanity and insecurity and fear."
Facebook Co-Founder: America Is OK; It's The Rules That Are A Pain (WSJ / Washington Wire)
Eduardo Saverin, the Facebook co-founder who gave up his U.S. citizenship, has nothing against the U.S., just its complicated rules on U.S. citizens holding money overseas. Bloomberg Saverin's name is on a list of people who chose to renounce citizenship as of April 30, published by the Internal Revenue Service. Saverin made that move "around September" of last year, according to his spokesman. Forbes / Top Dollar Saverin, 30, may have made the move for tax reasons, hoping to avoid the highest rates before Facebook goes public. Although born and raised in Brazil before moving to the United States in 1992, he now lives abroad in Singapore.
Google's Head Of News: Newspapers Are The New Yahoo! (GigaOM)
Google has a somewhat tense relationship with the traditional newspaper industry, since publishers like News Corp.'s Rupert Murdoch still believe it is depriving them of revenue by "stealing" their content and aggregating it at Google News. So you might think that Google's head of news products, Richard Gingras, would try to smooth over any ruffled feathers when talking about the future of news.
Xbox Edges Out iPad As Top Non-PC Video Platform: Report (Multichannel News)
Microsoft's Xbox 360 was the top non-PC platform for viewing professional digital video content and ads in the first quarter of 2012 -- beating out the iPad, the iPhone and Android devices -- although such gadgets represent only 4 percent of total online and mobile views, according to ad-management firm FreeWheel.
Opening Ceremony Launching Magazine (WWD / Memo Pad)
Opening Ceremony will launch a collectible fashion and culture magazine in August, called OC Annual. Each issue will center on a theme, with the debut issue focused on sports in honor of the London Olympics.