The newspaper business is booming in much of the world, as new newspapers are springing up in developing countries, gaining both readers and advertising money, the International Herald Tribune reported Monday.

Despite difficulty in the newspaper industry in North America and Europe, circulation is rising in the double-digits at existing newspapers in Africa and much Asia, and new newspapers “are springing up from Rwanda to Tajikistan,” the IHT article states.

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U.S. cable television group Cablevision announced it is buying New York-based Newsday for US$650 million, beating out Rupert Murdoch's bid of $580 million, BBC News reported Monday.

Mort Zuckerman, owner of the New York Daily News, also bid $580.

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The International Newspaper Marketing Association is changing its name to the International Newsmedia Marketing Association, to “reflect the evolution of its member newspapers and lead the newspaper industry toward its multi-media future,” INMA said in a statement, Editor & Publisher reported Monday.

The board of directors of the Dallas-based organisation voted unanimously May 6 to make the change.

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As part of a newsroom reorganization, the London Evening will be putting an end to the position of media correspondent, the Guardian reported Monday.

Amar Singh, the last to hold the position, started at the paper in 2005, and has been promoted to senior reporter as the media role was axed.

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Facebook has raised US$100 million (£51 million) to expand its server capacity in order to deal with an explosive growing numbers of users.

The social networking site is borrowing $100 million from the venture loan company TriplePoint Capital to finance the plan, Media Guardian reported.

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Social network users in Europe will reach 107.4 million in 2012, up from 41.7 million in 2007, according to Datamonitor.

The UK is expected to be the biggest grower in social networking over the next five years, up from 9.6 million users in 2007 to 27.1 million in 2012.

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