Dulles, Va. - Media giant Time Warner plans to split AOL into two distinct businesses -- one operating its Internet access service and the other focused on its Web portal and online advertising -- CEO Jeffrey Bewkes said during a conference call on Wednesday. [more..]

Tokyo - Google is in talks with Chinese digital music distributor Top100.cn to launch a free music download service in China, and major label Universal Music Group has confirmed its involvement in the negotiations, The Wall Street Journal reported on Wednesday. [more..]

New York - Major record label Warner Music Group has posted a loss for its fiscal first quarter, ended Dec. 31, but saw revenue from digital music sales climb 41.9% from a year ago to $132 million, and said digital now accounts for 14% of total revenue. [more..]

San Francisco - Video-sharing site Revver, which has raised a total of $12.7 million in financing to date, is now reportedly seek a sale of the company with an asking price of just $300,000 to $500,000, plus assumption of about $1 million in debt, CNET News.com reported, citing two sources with knowledge of the negotiations. [more..]

Los Angeles - Time Warner's HBO is offering free streams of the first fifteen episodes of its new series "In Treatment" on its website, in an attempt to help generate a following for the show -- the first HBO series that airs five nights a week, according to The Hollywood Reporter. [more..]

Amsterdam - Nearly 90% of respondents in a recent survey of casual gamers on RealNetworks' RealGames service said they will watch in-game streaming video ads in return for free game play. [more..]

London - Kobalt Music Group, a U.K.-based music publishing firm whose roster includes Moby and Eminem's Eight Mile Style, has raised $16 million in a second round of funding led by Balderton Capital, PEHub.com reported. [more..]

New York - Howcast Media on Wednesday announced the launch of its site that lets users watch and share instructional how-to videos, and announced that it has raised an $8 million first round of financing, led by Tudor Investment Corporation. [more..]

Seattle - FlowPlay, the developer of a casual game-focused virtual world targeted at teenagers, has raised $3.7 million in its first round of venture capital financing, led by Intel Capital and Ambient Sound Investments. [more..]

Thought I would share a few tips on what I have found works when it comes to standing out as a speaker at a tradeshow, conference or other industry event, blogs Rohit Bhargava. [more..]

New York - CBS is partnering with mobile social networking service Loopt on a test of location-based mobile advertising, The New York Times reported on Wednesday. [more..]

Los Angeles - Take-Two Interactive's "BioShock" for Xbox 360 has been named the 2007 Game of the Year by a group of several dozen video game journalists who put out the annual Game Critics Awards. [more..]

Los Angeles - Electronic Arts announced on Wednesday that the first game developed in collaboration with director and producer Steven Spielberg, "Boom Blox," is now slated for release in May for the Nintendo Wii. [more..]

Los Angeles - Microsoft has signed deals with Viacom's MTV Networks and major label Sony BMG, to offer clips of TV shows and music videos on its free MSN Video service in Europe, Variety reports. [more..]

Providence, R.I. - Ando Media, a provider of Internet radio audience measurement services, announced on Wednesday that Clear Channel Radio's online unit will use its Webcast Metrics service for all of its streaming radio sites. [more..]

New York - KickApps, a provider of on-demand social media technology, said on Wednesday that it will power the online community functions for "Upstaged," a new multi-platform reality TV show from Endemol that will air on the BBC in the U.K. [more..]

Los Angeles - Habbo, a virtual world for teens that counts 8 million monthly users, announced on Wednesday that it has signed with the William Morris Agency, to facilitate potential cross-marketing and promotional partnerships in the film, sports, television and music industries. [more..]

San Antonio, Texas - MyToons.com, an online community where animators can post and share original animated videos, cartoons and other content, on Wednesday announced that it has partnered with YouTube to create a MyToons-branded YouTube channel. [more..]

Baltimore - Millennial Media, a developer of mobile advertising services, said that it has signed MLB Advanced Media, the interactive media and Internet arm of Major League Baseball, to its network. [more..]

New York - The Wall Street Journal Digital Network on Wednesday said it partnered with mobile applications firm Action Engine to offer a free, downloadable application for Windows Mobile phones that provides mobile access to WSJ.com, MarketWatch.com and Barrons.com. [more..]

New York - Mobile virtual network operator Helio said on Wednesday that it has partnered with Buzzd, a local entertainment service that provides information on bars, clubs and restaurants, to offer location-based suggestions to Helio subscribers. [more..]

Mountain View, Calif. - The Multiverse Network, a developer of 3D virtual worlds, on Wednesday announced the launch of Virtual Times Square, a true-to-life digital recreation of everything from 7th & Broadway to West 45th. [more..]