I'll say this for the folks at New Medium Enterprises: They're nothing if not persistent. The British company has continued to put out press releases and pester reporters for years with tales of imminent developments and breakthroughs for its red-laser based HD VMD disc format despite few of its promises actually being borne out. And yet the company refuses to give up, recently going so far as to hire Michael Solomon, a well-regarded TV industry veteran, as its new chairman to try, once again, to attract interest in the format from U.S. program suppliers.

San Francisco - Zivity, a subscription-based social network where models and photographers can post "professional-quality photography promoting female beauty and expression" for members, said on Monday that it has raised $7 million in its second round of financing, from BlueRun Ventures and Founders Fund.

Redmond, Wash. - Microsoft (NASD: MSFT) on Monday announced price cuts for its Xbox 360 video game console in Europe, with the price to be lowered by 80 euros ($123) on all three models, so that the cost for the entry-level model is now about $307. Prices in Great Britain were lowered by 20 to 50 pounds, so that the cheapest model there now costs 159 pounds ($319).

Seattle - Warner Bros. Records (NYSE: WMG) recording artists R.E.M. will premiere their upcoming album, "Accelerate," exclusively on the iLike social music discovery service. iLike, which claims 23 million registered users, said the album will begin streaming from its site on March 24, six days before its North American release on April 1. The band will also offer an exclusive video message introducing and discussing the album through iLike.

Santa Monica, Calif. - Independent film studio Lionsgate on Monday announced a partnership with Apple (NASD: AAPL) to provide digital copies of select films that can be easily transferred from a DVD or Blu-ray disc into iTunes for viewing on a PC, Mac, video iPod or iPhone. The first Lionsgate releases to feature an iTunes Digital Copy will be "Rambo" and "The Eye."

New York - Qtrax, a company developing a free, ad-supported, peer-to-peer file-sharing service, announced on Monday that it has signed an agreement to include the catalog of U.K. independent label network Beggars Group. The deal includes tracks from artists on labels including Beggars Banquet, 4AD, XL Recordings and Matador Records. The company also recently signed deals with EMI Publishing, Sony/ATV Music Publishing and TVT Records.

London - We7, a digital music service co-founded by musician Peter Gabriel that offers ad-supported free downloads, has announced a licensing deal with Sony BMG, but for its forthcoming ad-supported streaming service -- not for downloads. "(The labels) have come a long way since this time last year and feel comfortable with streaming, but still have a few more hurdles to jump before they are fully comfortable with downloads. It will get there, and probably at an accelerated pace during 2008 and early 2009," We7 CEO Steve Purdham told Music Ally.

New York - Nintendo of America says it will not publish an upcoming Holocaust-themed DS title, "Imagination Is the Only Escape," which "casts players in the role of a young boy in eastern France during the German occupation who seeks escape from real-life horror through a fantasy world," The New York Times reports. "At this time, there are no plans for this game to be released for any Nintendo platforms in North America," the company said in a statement. The game's creator, 21-year-old Luc Bernard, told The Times there is no violence in the game, which is meant to be educations. It is slated for release in Europe later this year.

Cupertino, Calif. - Following a report over the weekend in the U.K.'s Telegraph that said Sir Paul McCartney had signed a $400 million deal with Apple (NASD: AAPL) to distribute the Beatles catalog on the iTunes Store, Apple has dismissed the claim as unsubstantiated speculation. "This is not news nor is it a scoop," an Apple spokesman told Billboard.

New York - Eyeblaster, a provider of digital marketing services, has filed for an initial public offering of shares on the Nasdaq that aims to raised $115 million.

Palo Alto, Calif. - Gigya, a developer of technology for distributing, tracking and analyzing widgets, said on Monday that it has raised $9.5 million in its second round of funding, led by Mayfield Fund.

New York - Drop.io, a provider of websites for sharing photos, videos, documents, and other types of media, announced on Monday that it has raised $2.7 million in its first round of venture capital, led by DFJ Gotham and RRE Ventures.

San Francisco - Kyte, a provider of technology that allows users to broadcast mobile and online video to multiple destinations, announced on Monday that it has closed a $21.1 million second round of funding, led by Disney-affiliated Steamboat Ventures.

London - Slicethepie, a music discovery site where fans can invest in the recording of albums by their favorite artists, announced on Monday that it has raised $2 million in its third round of venture capital financing.

New York - Giant Realm, on online network of video game and entertainment sites, announced on Monday that it has raised a new $3.5 million found of financing, led by Comcast Interactive Capital.

San Mateo, Calif. - Jivox, the provider of a self-service online video ad platform for local businesses, announced on Monday that it has raised $2.7 million in a round of seed financing, led by Opus Capital.

San Francisco - Fuego Nation, a company developing a social network "for discerning, passionate adults looking to expand their personal and professional communities in one convenient location," on Monday announced a $1.5 million first round of funding, provided by private investors.

New York - RiverWired, an online social network and content community that focuses on green, eco- and environmentally-friendly lifestyle topics, said on Monday that it has raised $1.5 million in a round of seed-stage funding from unnamed investors.