New York - Video game publisher Take-Two Interactive's board has rejected an unsolicited bid of about $2 billion for the company from fellow games maker Electronic Arts, saying the proposal undervalues Take-Two and is a "highly opportunistic" move given the pending release of "Grand Theft Auto IV." [more..]

Seattle - Getty Images, a creator and distributor of stock photography and other media, announced on Monday that it has accepted a $2.4 billion buyout offer from private equity firm Hellman & Friedman. [more..]

New York - Glam Media, a distributed media network of over 450 lifestyle sites targeted at women, announced on Monday that it has raised $85 million in strategic financing, including $65 million in a fourth round of venture capital and $20 million in revenue-based debt financing. [more..]

New York - In attempting to block access to its country's citizens over allegedly anti-Islamic videos on the site, Pakistan inadvertently cut off access to Google's YouTube to much of the world for several hours on Sunday, the Associated Press reported. [more..]

New York - Adconion Media Group, a European online ad network, announced on Monday that it has closed an $80 million third round of funding, led by Index Ventures and existing investor Wellington Partners. [more..]

San Francisco - Radar Networks, a developer of semantic Web technology, announced on Monday that it has raised a $13 million second round of venture capital, led by Velocity Interactive Group. [more..]

San Francisco - Tiny Pictures, the provider of a service that lets users share camera phone pictures and videos in real-time, announced on Monday that it has secured $7.2 million in its second round of funding, led by Draper Fisher Jurvetson. [more..]

McLean, Va. - Mixx, a provider of social news aggregation services, has raised $2 million in its second round of financing from previous investor Intersouth Partners, VentureBeat reported. [more..]

Los Angeles - CraveOnline, a men's entertainment site, announced on Monday that it has acquired GameRevolution, a provider of video game news and reviews, for an undisclosed sum. [more..]

Tokyo - Morpho, a Japanese developer of image processing software for mobile devices, announced on Monday that it has received a $1.5 million investment from Nokia Growth Partners. [more..]

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Here are some take-aways from Avenue A Razorfish's 2008 Digital Outlook Report that was released yesterday. [more..]

DMW’s CEO & Publisher provides a wrap-up of the top stories of the week. Who’s hot, who’s not and what’s the industry buzz? [more..]

Seattle - Microsoft said over the weekend that it will discontinue the $130 HD DVD player add-on for its Xbox 360 video game console, in the wake of Toshiba's announcement that it cede victory in the next-generation DVD format war to rival Sony's Blu-ray. [more..]

New York - Publisher Random House, a unit of Germany's Bertelsmann, has decided to forego digital rights management on its audiobooks and will begin selling them in the unprotected MP3 format, The Wall Street Journal reported. [more..]

San Diego - Chumby Industries on Monday debuted the Chumby, its $179 portable Wi-Fi Internet device that lets consumers receive "a constant personalized broadcast of their favorite parts of the Web." [more..]

New York - The New York Times Co. on Monday announced the beta launch of ShifD, an application that provides users the capability to shift content between their computers and mobile devices. [more..]

Paris - Video-sharing site Dailymotion announced on Monday that it has implemented digital video fingerprinting copyright filtering technology from INA across its entire site. [more..]

San Diego - DivX, a developer of video compression technology and provider of video distribution services, announced on Monday that it will shut down Stage6.com, a service that let users upload and store videos encoded in its DivX format. [more..]

Los Angeles - Creators of the Internet series "quarterlife," first shown on MySpace and soon to become an hour-long series on NBC, said on Monday that the series will also be made available for purchase from Apple's iTunes Store. [more..]

Bethesda, Md. - Following a year in beta testing, Draftix said on Monday that it has launched the commercial version of its sports season ticket sharing site, which allows users to create groups online to divide and share their season tickets. [more..]