New York - AOL announced today that it has entered into an agreement to acquire Bebo, a social media network, for $850 million in cash. Bebo is particularly strong outside the United States, especially in Britain, and has a global membership of more than 40 million. [more..]

After its unsolicited bid to acquire Take-Two Interactive was rejected, EA launched a tender offer to acquire all of Take-Two's outstanding shares for $26 each, the price it offered the company last month, the WSJ reports. [more..]

San Francisco - Microsoft is not in talks to include Sony Blu-ray high-definition DVD technology in its Xbox 360 video game console, according to Aaron Greenberg, group product manager for Xbox 360. [more..]

Mountain View – Google will announce a new service for web publishers to help them manage their online ad sales and serve ads every time a reader lands on a page, the WSJ reports. [more..]

San Francisco – San Francisco-based software company ShareThis has announced that it's raised $15 million from Draper Fisher Jurvetson, Reservoir Venture Partners, RPM Ventures, and Blue Chip Venture in a second round of funding. [more..]

San Francisco - iBloks, a company which creates rich media ads, is in the process of raising a third funding round of up to $2.1 million from Maveron Equity Partners and MEP Associates, according to the website VentureBeat. [more..]

New York - Disney president and CEO Bob Iger believes that the computer will soon replace television as children’s screen of choice. He made the remark at the McGraw-Hill Media Summit in New York yesterday. [more..]

Los Angeles - Nine Inch Nails pulled in a healthy $1.6 million in revenues during the first week after they released their new album "Ghosts I-IV" Radiohead-style. [more..]

"People have to demand a higher standard," Lou Reed says of digital music consumers. "The other side may say that's elitist, that only people with money can afford a good sound. With MP3, you get very bad sound, but the trade off is there's a lot of it in front of you." [more..]

Spot Runner, an internet company that helps customers in the acquisition of local TV advertising, said today that it has hired Joanne Bradford [more..]

According to research from Beijing-based BDA, based on data from the China Internet Network Information Center, the country had 210 million internet users at the end of 2007, compared to Nielsen/NetRatings findings of 216 million. [more..]

Yahoo is planning a move of its European headquarters from London to Geneva, Switzerland, for tax reasons. Some 70 of its top managers in the UK are told to relocate or lose their jobs, according to Financial Times (FT). [more..]

Rio Caraeff, a top mobile and digital executive at Universal Music Group, claims that UMG's digital business now accounts for 40-60 percent of total revenues from new releases in the pop and urban genres. "Our mobile business is about half of our digital business, and our digital business is about 40-60% of our new releases," he told Digital Music News. [more..]

Virgin Mobile Canada has already taken aim at former New York governor Eliot Spitzer in an advertisement. [more..]

Photo-sharing site Photobucket said today that it would reinstall images of babies in diapers that it had removed for violating the company's terms of servicing outlawing "nudity." [more..]