Richmond, Va. - One month after revealing an unsolicited $1 billion takeover bid from Blockbuster, consumer electronics retailer Circuit City Stores said on Friday that it will open its books to the video rental giant in preparation for a potential acquisition. [more..]

Los Angeles - News Corp.'s MySpace has announced the launch of a new "Data Availability" initiative, which will allow users to share their public profile data on third-party websites of their choosing, including Yahoo, eBay, Photobucket and Twitter. [more..]

Los Angeles - TorrentSpy, the BitTorrent tracker that was ordered by a federal judge this week to pay the Motion Picture Association of America (MPAA) $111 million in copyright infringement damages, has filed for bankruptcy protection in England and will not pay up, the company's attorney, Ira Rothken, told Wired.com. [more..]

New York - Take Two Interactive's 2K Games label announced on Friday that it has signed a deal with Universal Pictures to develop a movie based on its "BioShock" game, to be directed and produced by Gore Verbinski ("Pirates of the Caribbean"). [more..]

New York - Video game publisher Atari, which last week agreed to merge with its major shareholder, France-based Infogrames, announced on Friday that the Nasdaq has delisted its shares, effective today. [more..]

Toronto - Viigo, a provider of mobile content applications for smartphones, said on Friday that it has received a $1.5 million follow-on investment to its first round of financing, from RBC Venture Partners. [more..]

San Mateo, Calif. - dotMobi, a provider of Internet addresses for mobile phones, said on Friday that it has acquired the technology assets of Mowser, a developer of mobile Web browsing technology. [more..]

One of the key questions facing record labels and bands is how to make money in the face of peer to peer filesharing. Bands that build a direct relationship with fans may be better placed to make money from special offers such as limited edition albums and concert tickets, blogs Heather Hopkins. [more..]

Emeryville, Calif. - Orb Networks, a developer of media place-shifting technology, announced that it has enabled live TV streaming to Apple's iPhone and iPod touch. [more..]

Los Angeles - The Los Angeles County Board of Supervisors this week expanded the ordinance that allows for the county to shutter a property that becomes a "public nuisance," such as in gang or drug-related instances, to include properties used to illegally manufacture and sell recordings and audiovisual works. [more..]

Cupertino, Calif. - Apple's Canadian unit has settled a class action lawsuit with Canadian iPod owners over claims to the device's battery life, and will pay consumers there who purchased an iPod before June 24, 2005 a $45 credit, Canada's Gazette reported. [more..]

San Francisco - Project Playlist, a service that aggregates streaming music links into playlists, and has been sued for copyright infringement by three of the four major record labels, has hired former Recording Industry Association of America (RIAA) CEO Jay Berman as a consultant, CNET News.com reports. [more..]

Tokyo - Chaku-Uta Full, a Japanese mobile music download service owned by a group of Japanese record labels and operated by Label Mobile, has now served over 200 million full-track song downloads since its inception in November 2004, Billboard reports. [more..]

New York - Last.fm, the social music discovery service owned by CBS, on Friday launched a new original video programming section, featuring interviews with artists including Moby, Santogold and Spoon. [more..]