Los Angeles - While U.S. CD shipments were down 17.5% in 2007, digital formats now account for 23% of U.S. recording revenues, up from 16.1% in 2006 and 9% in 2005, according to year-end shipment data calculated by the Recording Industry Association of America (RIAA). [more..]

New York - Time Warner's Warner Bros. Television Group on Monday announced plans to launch two new broadband, ad-supported sites, TheWB.com and KidsWB.com, the former of which will feature both The WB Networks' most popular series and other programming, as well as original series created specifically for the site. [more..]

London - Apple has threatened legal action against nearly a dozen U.K.-based online retailers who are buying Apple iPods in the U.S., where they cost about $30 less, and then reselling them in the U.K. at a discount on Apple's pricing, The Register reported. [more..]

Dallas - Video rental giant Blockbuster announced on Monday that it has begun selling video games, game consoles and accessories at all of its U.S. corporate-owned stores, as part of the company's broader plan to significantly expand its game business. [more..]

Los Angeles - Tudou, China's largest video-sharing site, has landed a $57 million fourth round of venture capital financing, from return backers IDG Technology Venture Investment, Granite Global Ventures and General Catalyst Partners, Pacific Epoch reports. [more..]

San Francisco - Twitter, the microblogging service that limits posts to 140 characters, has raised "either $15 million or $20 million" in new funding from undisclosed investors, a source familiar with the deal tells CNET News.com. [more..]

Montreal - Akoha, the developer of a new social game with elements of social entrepreneurship, multiplayer and reality-based games, announced on Monday that it has raised $1.9 million in new financing from angel investors. [more..]

Cambridge, Mass. - GamerDNA, a provider of online communities for video game players, announced on Monday that it has acquired It Can Talk Inc., the owner of 360voice.com, a community website for Xbox 360 users. [more..]

Midlothian, Va. - Moving a major step closer to completing a deal it first announced in January, video game publisher SouthPeak Interactive said on Monday that it has agreed to acquire a majority stake in Global Services Partners Acquisition Corp. (GSPAC) in a deal that will take the company public. [more..]

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New York - Trent Reznor's Nine Inch Nails announced on Monday that the band has secured very limited allotments of "the guaranteed best possible seats" to every headlining show on the band's upcoming tour, and will make them available for sale via NIN.com. [more..]

Mountain View, Calif. - With one more record due to Warner Music under their current contract, Metallica is considering a Radiohead-style release for future efforts, drummer Lars Ulrich tells Rolling Stone. [more..]

Los Angeles - Online music community Buzznet, which recently acquired music blogs Stereogum and Idolator, has announced an online promotion for the release of Interscope/Geffen/A&M Records' artists Weezer's new single, "Pork & Beans." [more..]

London - U.K. media retail chain HMV has launched a beta test of a new social networking site, which allow users to import music and film files and create their own libraries, then be matched up with other members with similar tastes, The Telegraph reported. [more..]

Chicago - Emmis Communications, a broadcaster that owns several dozen U.S. radio stations, on Monday announced the launch of Emmis Interactive, a new unit that will market the company's interactive service to radio broadcasters and other local media companies. [more..]

Los Angeles - Gannett's USA Today said on Monday that it has partnered with Mediabase to provide music radio airplay charts in a new weekly feature, to run in the magazine's Life section and on its website every Tuesday. [more..]

Shanghai, China - Chinese online games operator Giant Interactive Group announced on Monday that its two-year-old "ZT Online" multiplayer game reached a new Chinese record of 2.1 million peak concurrent users over the weekend. [more..]