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After months of rumors, and amidst mounting speculation that a deal was imminent, The Daily Beast announced that it has withdrawn from talks with Newsweek about a merger between the two organizations. Had the deal gone through, Brown was widely expected to have become editor of the magazine.

CNN today fired anchor Rick Sanchez a day after Sanchez assailed The Daily Show host Jon Stewart as a "bigot" and suggested that CNN and the other networks are run by Jews. Sanchez made his rant Thursday on the Sirius XM radio show "Stand Up! with Pete Dominick". CNN acted within 24 hours. "Rick Sanchez is no longer with the company. We thank Rick for his years of service and we wish him well," the Time Warner cable news channel said in a statement. Sanchez recently lost his afternoon show on CNN Rick's List, which is being replaced by CNN Newsroom. The Daily Show considered Sanchez an intellectual lightweight compared to CNN stars Anderson Cooper and Wolf Blizter and made him the butt of jokes, which Sanchez resented and thought was racist. (He's Hispanic.)

When it comes to releasing a new product, users and pundits’ opinions only count for so much, but numbers — including revenue and traffic– don’t lie... This week, the web analysts at Hitwise gathered data showing a 34% decline in visitors in the U.K. and a 24% decline in the U.S. in the past 11 weeks.

The biggest newspaper in Mexico s most violent city will restrict drug war coverage after the killing of its second journalist in less than two years, just as international press representatives will urge the government to make security for journalists a national priority.

With the release of the new Digg on August 25th, anybody with the ability to understand how a story, which is promoted to the popular section, is composed, has an edge in attaining viral exposure ranging from tens of thousands to millions of pageviews. Diggs users constitute a large proportion of bloggers. Thus stories promoted to their popular section, which was previously their homepage and now the Top News page, can attain anywhere from less than 10 to hundreds of links pointing to their websites.

British TV host Piers Morgan will take over Larry King's prime-time hour with "a candid, in-depth newsmaker interview program" starting in January, CNN announced Wednesday.

ABC News President David Westin, the longest-reigning U.S. television network news division chief, with more than 13 tumultuous years on the job, told his staff Monday that he is resigning and will leave by the end of the year.

The brand new Digg is under fire on its first ever Monday from both its most loyal users and the competition at Reddit. Launched last Wednesday, Digg power users have launched a Digg Revolt today, some calling it "Quit Digg Day," and the Reddit community has embraced the feud.

USA Today, the nation's second largest newspaper, is making the most dramatic overhaul of its staff in its 28-year history in an effort deliver stories more quickly to mobile devices and produce more coverage likely to sell advertising.The makeover outlined Thursday will result in about 130 layoffs this fall, USA Today Publisher Dave Hunke told The Associated Press. That translates into a 9 percent reduction in USA Today's work force of 1,500 employees. Hunke didn't specify which departments would be hardest hit.

After 20 months and millions of dollars in attorney fees, time is running short on Tribune Co.'s campaign to control its own destiny in Bankruptcy Court.