Los Angeles - Apple (NASD: AAPL) has applied for a patent on technology that would allow users to stream their iTunes libraries from a remote device, such as an iPhone or iPod, Apple Insider reported. The system would stream songs -- or potentially photos, video, audiobooks and games -- from your home computer via a Wi-Fi connection or mobile network. Another element would allow users to stream songs directly between iPhones or other remote devices, similar to a feature offered by Microsoft's Zune.

Munich, Germany - Noted music software developer Peter Neubaecker, creator of the Melodyne pitch correction application, has unveiled a new application called Direct Note Access (DNA) that can breaks the recording of a chord down into individual notes so that each may then be manipulated, Wired.com reported. "While Melodyne enabled anyone could sing in tune, Direct Note Access's effect will likely be far more widespread," Wired.com's Listening Post blog noted. "Any one of us will technically be able to create an impressive guitar-based song by strumming all of the open strings on a guitar then editing the resulting chord to play whatever we want."

New York - Veteran rock band The Police will release their forthcoming live album "Certifiable" exclusively in Best Buy (NYSE: BBY) retail stores and from the company's website. The band also partnered with the company to webcast what it called its last show ever last night from Madison Square Garden. Three songs from the concert's encore remain archived at BestBuy.com.

Los Angeles - Will Ferrell-backed comedy website Funny or Die said this week that their John McCain campaign spoof ad featuring Paris Hilton has been viewed over 6.2 million times, driving site visits to their highest level in company history. "We are excited that this piece has become a hot topic for both the media and the public and we find it insane that Paris has the country discussing energy policy," said Adam McKay, co-founder of Funny or Die, and creator of the Hilton spoof.

London - NBC Universal Global Networks (NYSE: GE) on Friday announced the launch of two time-shifted channels for the U.K.'s Sky and Virgin Media pay-TV services. Hallmark Channel will allow U.K. viewers to watch U.S. NBC TV shows like "House," "Law & Order" and "Damages," while Diva TV will play host to on-demand episodes of "Oprah Winfrey," "Late Show With David Letterman." NBCU already offers the time-shifted channels SCI FI ("Heroes," "Medium," "Flash Gordon" and Movies 24 in the U.K.

Redwood City, Calif. - Electronic Arts (NASD: ERTS) and Paramount Digital Entertainment (NYSE: VIA) on Friday announced on Friday that the will release "The Godfather II" for Xbox 360, PlayStation 3 and the PC in February 2009. The game based on the first "Godfather" film sold over 4 million units. The sequel will notably not feature the voice or likeness of actor Al Pacino. Paramount is also facing a $1 million lawsuit from the son of "Godfather" author Mario Puzo, who claims the estate has received no royalties from game sales.

Los Angeles - The Associated Press this week reported on the odd lack of a simultaneously released video game based on the blockbuster Batman film "The Dark Knight," an absence that could be costing Electronic Arts (NASD: ERTS), the publisher commissioned to create the game, and Warner Bros. (NYSE: TWX) the studio that released the film, as much as $100 million in sales.

Mountain View, Calif. - Google (NASD: GOOG) disclosed in a regulatory filing this week that it believes its $1 billion investment in Time Warner's (NYSE: TWX) AOL "may be impaired," adding that it will continue to review the investment and may potentially have to take a charge on its books to account for the declining value of its 5% stake in the company. "There can be no assurance that impairment charges will not be required in the future, and any such amounts may be material," Google said in the SEC filing.

Cupertino, Calif. - Apple (NASD: AAPL) has removed a $999.99 application for its iPhone called "I Am Rich" from its online App Store, but not before at least eight people purchased the otherwise useless application, the Los Angeles Times reported. The application's description in the store read: "The red icon on your iPhone or iPod touch always reminds you (and others when you show it to them) that you were able to afford this. It's a work of art with no hidden function at all."

London - Project Kangaroo, a TV video-on-demand joint venture proposed between U.K. broadcasters BBC, ITV and Channel 4 that was slated to launch in the fourth quarter, has seen its launch date delayed while the U.K. Competition Commission extends its probe of the service.

San Francisco - Web video search index Blinkx announced on Friday that it has made a $41 million bid to acquire MIVA, the operator of a pay-per-click ad network as well as a network of consumer destination sites and interest-specific toolbars.

Menlo Park, Calif. - Nokeena Networks, a developer of storage and distribution technology for high-quality video, has raised $8.7 million in its first round of venture capital financing, led by Clearstone Venture Partners and Trinity Ventures, TheDeal.com reported.