• The first quarter wasn't such a hot one for NBC Universal: Earnings dropped 45 percent as the ad market continued its downward spiral. [WSJ, TVWeek]
• The world's largest newsprint maker has gone bankrupt. [NYT]
• Rolling Stone is closing up shop in San Francisco. [Portfolio]
• Ads sales figures at The New York Times Co. are looking pretty ugly. [E&P]
• Some good news, at least for impoverished porn addicts: Time Warner no longer plans to charge customers based on bandwidth usage. [Wired]

• That Ashton Kutcher beat CNN to a million followers on Twitter is now classified as "breaking news" for some reason. [B&C]
• YouTube is signing deals to add movies and TV shows to the site, so it can better compete with sites like Hulu. [PCWorld]
• The recession is benefiting financial news networks, not surprisingly. [THR]
• The year-long relaunch and redesign of Newsweek hits in early May. [FT]
• CNBC turns 20 today. [TVN]