The best stories across the web on media and technology, curated by Lily Leung

1. The New York Times sells for $300 million in cash (Business Insider)

2. Why sending 15,000 journalists to the national conventions is a waste (BuzzMachine)

3. MTV, partners create fantasy-football-style game to engage more young voters (Nieman Lab)

4. YouTube to cut less successful original content channels (The Hollywood Reporter)

5. Facebook exec advocates new standard for gauging reach (Advertising Age)