Yesterday's article on TechCrunch about Lookery, a company specializing in selling ad inventory for social apps on Facebook, that is struggling to break even despite serving about three billion ad impressions per month, sparked an interesting discussion in the blogsphere about the ability (or inability) of social networks to monetize their traffic through advertising, and the outlook for online advertising supported businesses in general.

• Breaking: Samwer Brothers Invest In Facebook (TechCrunch)

• Steve Jobs Keynote Live From Macworld (TechCrunch)

• Apple Unveils iTunes Movie Rentals, more (GigaOM)

• EMI faces 2,000 job cuts (Reuters)

• Ticketmaster to buy online reseller TicketsNow (Reuters)

• MySpace Creating a Game Portal (GigaOM)
  

• Netflix lifts limits for movies watched over Web (Reuters)

• Gannett names chief digital officer in online push (Reuters)

• Video Ad Network Tremor Media Raises $11 Million B Round (TechCrunch)

• Toshiba Cuts Prices on HD DVD Players (SF Gate)

• Deconstructing Time Warner’s Fix-It Guy (NY Times)

• "iPod Tax" smacked down in Canada (Ars Technica)

• MySpace agrees to block sexual predators (AP)

• Live Nation to launch tickets business in '09 (Reuters)

• Robbie Williams threatens to ditch EMI: report (Reuters)

• Reznor favors $5 ISP tax on music (CNET)

• The Swedes Come Down Hard On The Pirate Bay (TechCrunch)

• Microsoft looking to aquire the Limelight? (CNET)

• Toshiba Shows Prototype TV Running on PS3 Chip (PC World)

• Under pressure from EMI, RIAA could disappear (Ars Technica)

• Universal, Paramount deny move to Blu-ray imminent (Ars Technica)

• Radiohead's "Rainbows" yields pot of gold (Reuters)
  

• Thanks Striking Writers, Online Video Going Up, Up, Up, Up (TechCrunch)

• AT&T May Censor Copyrighted Materials At The ISP Level (TechCrunch)

• Loeb Partners weighs in against $2.8 billion Macrovision-Gemstar merger (CNET)

• LionsGate: Piracy a major deciding factor for Blu-ray support (CNET)

• Video Gallery: Best Vintage Tech Commercials (Wired)

• Warner Bros. may cut 1,000 jobs (Reuters)

• Time Warner invests in teen virtual world Gaia Online (VentureBeat)

• U.S. House panel launches probe of FCC practices (Reuters)

• WeGame Launches As YouTube For Gamers (TechCrunch)

• Jango and Seeqpod Hope to Monetize Music (GigaOM)

• Best Buy wants Macs in more of its stores (CNET)

• HD DVD camp stands by format (LA Times)

• Stake in China HP for Sale to the Highest Bidder (PC World)

• Visits to BBC iPlayer soar (Guardian)

• Yahoo Life Has Been A Long Time Coming (TechCrunch)

• Tech Emmy winners include Wii and DS (Engadget)

• DVD sales slip drove Warner to Blu-ray (Reuters)

• Game Over: HD DVD To Join Deadpool (TechCrunch)

• UK wants to make CD rips legal (at last) (Ars Technica)

• Panasonic's monster display redefines the big-screen TV (LA Times)

• Comcast CEO Touts Cable's New Offerings (SF Gate)

• Paid downloads a thing of the past (Variety)

• New Services to Ease Mobile Content Access (PC World)

• PS3 holiday sales total 1.2 million (AP)

• Investors Said to Seek a Takeover of CNET (NYT)

• Motorola Acquires Online Music Store Soundbuzz (TechCrunch)

• Standardized Cable Technology on the Way at Last (Wired)

• Glover new CEO of Funny or Die (Variety)

• Reznor: Only 18% Paid For 'Niggy Tardust' (Billboard)

• Jawbone gets big boost from Sequoia Capital (Venturebeat)

• Sony BMG Lets the Music Play (Business Week)

• Ding, Dong, The Music DRM Witch Is Dead (TechCrunch)

• Parent of Dating Sites Looks for a Match (NYT)

• Details of T-Mobile's iPhone2 Plans in Germany Emerge (SVW)

• Apple Music Monopoly Lawsuit Seeks Class-Action Status (PC World)

• Wi-Fi Startup to Pick Up Where Google Left Off in SF (PC World)

• HP Goes High-Def With New Multimedia Notebook (PC World)

• Bebo named as best social networking site in survey (Guardian UK)

• Studios and directors begin informal contract talks (Reuters)

• Pudding Media Raises $8 Million To Serve Ads Against Phone Conversations (TechCrunch)

• Landmark confirms may sell Weather Channel, assets (Reuters)

• Plaxo, a Social Network, Said to Be for Sale (NYT)

• Nokia Siemens Acquires Apertio For €140m (TechCrunch)

• How-to video site 5min lands funding, continues uphill climb in US (VentureBeat)

• 3m Christmas downloads bring cheer to industry (Guardian UK)

• TiVo Nation::The New Etiquette for Our Time-Shifted Culture (MediaShift)

• The Netflix Set-Top Box Will be a Hard Sell (TechCrunch)

• Is MSN Premium a rip-off? (CNET)

• Veoh Adds Videos From Hulu (TechCrunch)

• Westinghouse Digital Wireless HDMI HDTV to debut at CES (Engadget)

• The music sites keep coming: MeeMix, SpiralFrog, Jango (VentureBeat)

• Radiohead frontman takes aim at EMI chief (Reuters)

• Web-only album 'mad', says Yorke (BBC)

• MC Hammer's next act: Tech entrepreneur (AP)

• Cooking.com Takes Out A $7 Million Loan (TechCrunch)

• Get an upconverting DVD player for $34.99 shipped (CNET)

• When will kids' online safety be taken seriously? (CNET)

• Apple and Google ruled a year to note in your Facebook (Guardian UK)

• Will CES 2008 Live Up to the iPhone? (PC World)

• Digital album packaging should improve in 2008 (Reuters)

• Oman's Renaissance to sell media unit for $7.8 million (Reuters)

• Get ready for a rocking '08 in networking tech (CNET)

• Feds aid viewers' move to digital in 2009 (LA Times)

• Philips to Unveil 52-inch Multi-Touch LCD at CES (PC World)

• Web Playgrounds of the Very Young (NYT)

December 28

• Wal-Mart's online movie failure: DRM, high prices to blame (Ars Technica)

• Apple readying HD Radio push for Macworld (iLounge)

• 38% of Americans Watch TV Shows Online (Reuters)

• "Simpsons" DVD tops U.S. sales chart (Reuters)

• Return of late night, or train-wreck TV? (AP)

• Bunchball: Cross-Platform, Real-Time Games. A Sign of Social Networking’s Future?(TechCrunch)

• Group Warns of Sites Offering Unlicensed Music (PC World)

• Radiohead offer fans New Year's Eve gig online (Guardian UK)

• Sony cuts rear-projection TV's, allies with Samsung on future LCD production (Ars Technica)

• Apple in online film-rental deal with Fox studio (Financial Times)

• Jay-Z stepping down as Def Jam president (Reuters)

• Radiohead To Promote Album With New Year’s Eve Concert on Current TV (TechCrunch)

• Apple shares trade at $200 for 1st time (LA Times)

• Mobile Products to Watch in 2008 (PC World)

• Hacks and smack-talking make hi-def format war even uglier (Ars Technica)

• Hulu launches private beta, faces challenges (VentureBeat)

• Stocks rise on RIM, Merrill reports (AP)

• Circuit City posts hefty 3Q loss (AP)

• Funny or Die Raises $15 million (Portpolio)

• MTV developing "Mall" musical for Cable, DVD (Reuters)

• Striking writers into "The Void" with Web deal (Reuters)

• CES hires senior advisor for show (Variety)

• Nokia's N-Gage First Access delayed to 2008 (Engadget)

• More teens than ever sharing—and restricting—content online (Ars Technica)