As Bauer Media's More! magazine closes its doors Digital Space has announced the launch of new fashion publication iLove which aims to turn traditional publishing on its head. ILove will be delivered to a selected audience of 700,000 households from July and will offer content that is fully interactive through a reader's mobile device, allowing access to both multimedia content and m-commerce sites.

The Caerphilly Observer is to introduce a new fortnightly tabloid newspaper next month. Launched in 2009, the Observer becomes the second South Wales website to announce a move into print this month - after the Port Talbot Magnet. Founder Richard Gurner said he has been able to make the move into print because of a European Union-funded business grant from Caerphilly County Borough Council.

Executive chairman, Eric Schmidt, has defended the Internet search giant's tax avoidance policies in the UK and said the company fully complies with the law. During an interview with the BBC, Schmidt defended the fact that Google paid corporation tax of just GBP6 million in 2011, even though the company generated annual revenues of GBP2.5 billion in the UK. Schmidt said his firm invested heavily in the UK and its services boost the economy.

The Independent is looking to fully integrate augmented reality into its daily editorial content, as it introduces 'Independent+' with Blippar. Launched yesterday, Independent+ will allow readers to use Blippar to bring print stories to life with additional digital and multimedia content, as well as allowing voting tools.

The Digital Entertainment Survey, conducted by Wiggin LLP, found that 12% say they would pay for Facebook or YouTube at an annual rate of GBP19 and GBP20 respectively. But according to the survey, only 4% would pay GBP39 a year for their favourite broadsheet (or quality) newspaper. The survey found that over all 37% of people would be willing to pay for their favourite content, which they currently get for free.

In a statement on the website, it was announced "The magazine has constantly evolved in order to remain relevant to its audience but continuing challenging economic conditions mean that the product is no longer viable. The more! team is now in consultation, and where possible, staff will be refocussed within Bauer.

MediaCom UK has appointed Moneysupermarket's head of digital to the newly formed role of head of biddable media. In his new role Mihaop will oversee search and programmatic buying across the agency, reporting to head of digital Stefan Bardega. He will lead a 100-strong team across search and biddable media with responsibilities spanning product, technology, operations and output for all biddable media across the agency.

The European Commission (EC) has received an offer from the UK-based media firm Pearson's Penguin unit to terminate its e-book deal with Apple in a bid to settle with EU antitrust regulators. The commission said the commitments made by Penguin's were 'substantially the same as those proposed by Simon & Schuster, Harper Collins, Hachette, Holtzbrinck and made legally binding by the commission in December 2012.

The Daily Mail already charges for its Daily Mail Plus iPad and Kindle edition which includes an increasing amount of unique content - including a daily digital nostalgia magazine which was launched last week. While Mail Online attracts more than 100 million unique browsers a month worldwide (according to ABC) and has very different news values from the Daily Mail print edition.

Telegraph Media Group has unveiled an above the fold, mid-page unit advertisement for its mobile website, which is set to run on all of The Telegraph's mobile article pages. Launch partners are set to include The Malta Tourism Authority, Omega, Lloyds Banking Group and William Hill. The new ad format will allow for channel take-overs or CPM campaigns.