It’s Friday martini time! Here’s what we’re talking about in media this week:

1. Changing Media: Is Reporting More About Sharing and Curation?

With social media, both casual observers and publications can report – and amplify – the news. Newsmakers can now share news directly with the consumer via Twitter, Tumblr, Facebook and blogs, without needing to bring their story to traditional media outlets. The role of the reporter used to be both finding and reporting the news. Now, it’s more about choosing which news should be amplified — and which should be ignored, according to GigaOm.

2. Newsweek Goes All-Digital

After 80 years in print, Newsweek is adopting an all-digital format in early 2013. A single, worldwide edition named Newsweek Global will be the new face of the brand. Is the news magazine an early adopter that will lead the way for others (although U.S. News & World Report went digital back in 2010), or could the shift “be more a commentary on its own problems than a definitive statement on the health of the magazine industry“? (CBS)

3. The Orange County Register Is Hiring – Because Print’s Where the Money Is

At a time when many other newspapers (and news magazines) are starting to focus on digital, the OC Register – under new ownership – is pouring money into print. Nieman Journalism Lab reports that the paper is hiring about 50 editorial staffers and adding new print sections “because print’s where the money is.”  The plan? Increase quality of the print edition, hike up subscription prices, and put up a paywall – moving away from a solely advertising-based newspaper model to a subscriber-based model.

Cheers! – and let us know what you’re reading this week!