Bethesda, Md. - WEbook, a site that lets users collaborate on the writing of books, has raised $5 million in new venture capital funding, from new investor Vertex Venture Capital, previous backer Greylock Partners Israel and eight angel investors, VentureBeat reported.

San Francisco - Social music discovery service iLike on Wednesday announced the launch of a developer platform, which will allow third parties to integrate iLike interactive music features into their applications and websites. Launch partners include Google, Evite, Slide, Flixster, Six Apart/Typepad and dozens of Facebook application developers. The platform will allow, for instance, Blogger and TypePad bloggers to add iLike playlists to their blogs, and Evite users to include group-editable playists on their invitations.

Paris - France-based video-hosting site Dailymotion has signed deals with three French media unions, which will allow creators to take an undisclosed percentage of advertising revenue from content they upload to the site, Variety reports. The deals were struck with the Society of Dramatic Authors and Composers, Civic Society of Multimedia Authors, and French Collective Administration Organization for the Rights of Authors in the Visual Arts, which collectively count more than 150,000 members.

San Diego - RoyaltyShare, a provider of a Web-based royalty processing and reporting service for the entertainment industry, said on Wednesday that it has signed deals with mobile service providers LiveWire Mobile, Moderati, SendMe Mobile, Thumbplay and Zed. Under the terms, record labels and music distributors using RoyaltyShare will be able to sell full-track downloads, ringtones and other content through U.S. wireless carriers.

Los Angeles - A group of Internet service providers in Denmark has rejected proposals from the International Federation of the Phonographic Industry (IFPI) trade group, which demanded they institute a "three strikes" policy toward file-swappers on their networks, TorrentFreak reported.

Los Angeles - News Corp.'s (NYSE: NWS) MySpace on Wednesday launched a set of interactive tools for MyDebates.org, a partnership between MySpace and the Commission on Presidential Debates that will provide live video webcasts of the upcoming presidential debates.

Los Angeles - Google (NASD: GOOG) is reportedly considering an acquisition of Valve Software, the developer of multiplayer hits including "Half Life" and "Counter-Strike," and a digital distribution system called Steam, according to The Inquirer, which cited well-placed sources.

Silver Spring, Md. - Shareholders of Discovery Holding Company (DHC) (NASD: DISCA) have cleared the way for Discovery Communications to go public, approving a measure to combine their stake in the cable broadcaster with those owned by Advance/Newhouse.

Brussels - The European Commission has cleared Sony's (NYSE: SNE) proposed $1.2 billion acquisition of Bertelsmann's 50% stake in their joint record label venture, Sony BMG, concluding that "the transaction would not significantly impede effective competition." The Commission said it did not find concern with Sony BMG and Sony/ATV's potential control of joint licensing of publishing and recording rights to online music retailers, nor with Sony's consumer electronics business, which makes music-related devices like MP3 players and mobile phones.

Dallas - RadioTime, a provider of Web radio station listings, announced on Wednesday that it has acquired RadioSherpa, the provider of a real-time program guide for all HD radio stations in New York City, Boston and San Francisco.

Boston - TruMedia Networks, a developer of sports-related social media tools, announced on Wednesday that it has acquired a number of online sports communities from Boxcar Media, including Sawxheads.com, Celtsheads.com, Patsheads.com and Blackandgoldheads.com.

Los Angeles - Independent music publisher Bug Music announced on Wednesday that it has secured a new $200 million credit facility, led by JP Morgan.