New York - Several bidders appear to be in contention to buy the Weather Channel cable network form owner Landmark Communications, including Time Warner and a partnership between private equity firm Blackstone Group and NBC Universal, Reuters reported on Friday. [more..]

Richmond, Va. - To cope with the major downturn in the newspaper industry, Virginia-based Media General, the large media company that owns dozens of newspapers and television stations throughout the Southeast, announced on Thursday that it will have reduced its headcount by 750 positions by the beginning of the third quarter. [more..]

Redmond, Wash. - Microsoft this week announced a new initiative to boost traffic to its Live Search service, whereby it will pay users to use the search engine with rebates. [more..]

San Mateo, Calif. - Akimbo, a maker of broadband set-top boxes that delivered video to televisions, and recently received $4 million in new funding to take the company in a new direction, has terminated most staff and is shutting down, VentureBeat reported. [more..]

San Francisco - GameStop, the nation's largest video game retail chain, has decided to discontinue sales of Microsoft's Zune portable media player due to lack of demand, TheStreet.com reported. [more..]

Beverly Hills, Calif. - Mandalay Media, a company set up to acquire various digital distribution, interactive entertainment and online publishing firms, announced on Friday that it will acquire Green Screen Interactive, a New York-based video game publisher and distributor. [more..]

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London - The chief economist for U.K. royalty agency MCPS-PRS Alliance and a Vanderbilt Ph.D. student have teamed to develop a proposal that would see new music technology start-ups offer equity in their companies to record labels in exchange for licenses to use their music. [more..]

San Francisco - Apple plans to introduce photo geo-tagging of photos in the latest build of its iPhone 2.0 software, Apple Insider reports. [more..]

Southbury, Conn. - Three months after launching its first technology-enhanced concept store in Michigan, book retailer Borders on Friday unveiled a new, 22,000-square-foot concept store in Southbury, Conn. [more..]

Los Angeles - Less than a year after its launch, the president and co-founder of movie-focused video game publisher Brash Entertainment has stepped down, Variety reports. [more..]

Los Angeles - The Championship Gaming Series (CGS), a worldwide gaming league whose contests are broadcast by DirecTV and other partners, announced this week at Digital Media Wire's LA Games Conference the launch of an ad-supported CGS channel on YouTube. [more..]