I'm the BBC's media correspondent and this is my brief selection of what's going on.
The announcement of the sale of the Independent to Alexander Lebedev is expected "very shortly", says Independent News & Media in its results announcement. Reuters reports that its pre-tax profits fell by 39%.
The Daily Telegraph scooped six of the British Press Awards last night for its expose on MPs expenses, including Newspaper, Journalist, Campaign, Scoop and Political Reporter of the Year the BBC reports.
The chief executive of Guardian Media Group Carolyn McCall is leaving to become chief executive of EasyJet according to the Times.
A TV commercial in which Lenny Henry parodies the horror film The Shining has been banned from children's programming. The Advertising Standards Authority said it was likely to frighten young viewers reports the BBC.
The Justice Secretary Jack Straw has announced libel reform proposals aimed at tackling the "chilling effect" of Britain's strict laws, and stopping "libel tourism" according to the Guardian.
Legislation to allow product placement on commercial television will be introduced to Parliament before the election reports the Guardian.
Speculation about the Budget occupies the newspapers as reflected in the BBC newspaper review.
Links in full
Reuters | Independent | News & Media expects deal on UK titles
BBC | Telegraph takes paper of year honour for expenses scoop
Robert Lea | Times | Guardian Media Group chief Carolyn McCall to take helm at easyJet
BBC | Premier Inn 'horror' ad banned from children's network
Owen Bowcott | Guardian | Libel reform bill to tackle 'libel tourism'
Maggie Brown | Guardian | Product placement legislation goes before parliament
BBC | Newspaper review
• Read Tuesday's Media Brief.