Facebook once again made headlines this week when it acquired Instagram for $1 billion, and Amazon riled book-sellers by reducing its ebook prices. Here’s a look at these and other headlines from the media and publishing business:
- Study: 7 in 10 local news readers wouldn’t greatly miss their hometown paper: According to a report from the Pew Research Center’s Project for Excellence in Journalism and Internet, nearly three quarters of adults follow local news, yet 34% of these local news enthusiasts say the disappearance of their local newspaper wouldn’t dramatically impact their lives. The report presents a mixed outlook for local newspapers.
- CIR Launching YouTube Channel For Investigative News Video: In July, the Center for Investigative Reporting is launching a YouTube channel that will feature video content from media outlets like NPR and ABC News as well as submissions from freelancers.
- Biz Break: Facebook buys Instagram, and Microsoft buys AOL patents in Merger Monday megadeals: This week, Facebook agreed to buy Instagram, the photo photo-sharing app, for $1 billion. Instagram is Facebook’s biggest acquisition yet.
- Cut in E-Book Pricing by Amazon Is Set to Shake Rivals: The Department of Justice’s investigation into price-fixing by five major book publishers has sent ripples through the ebook market. In response, Amazon has announced price cuts on ebooks.
- The 10 Worst Jobs of 2012: We were surprised to see that CareerCast included newspaper reporter and broadcaster, along with lumberjack and butcher, on its 10 worst jobs list. Anyone else disagree with this assessment?