Los Angeles - Microsoft plans to slash $50 off the price of its Xbox 360 video game console in advance of the industry's E3 trade show this month, bringing the price for the 20GB model to $299, according to The Hollywood Reporter, which cited "a major retailer." [more..]

Espoo, Finland - Mobile phone giant Nokia announced on Tuesday that it has signed a deal to add Warner Music Group's catalog to its "Comes With Music" line of phones that ship with a year's worth of unlimited music downloads, as well as its Nokia Music Stores. [more..]

Dallas - AT&T on Tuesday announced its pricing for the Apple iPhone 3G, noting that some time in the future it will for the first time sell the device without a two-year contract agreement, for an extra $400. [more..]

London - U.K. record company revenues outside direct sales of music -- such as licensing, and other areas outside the recording copyright -- increased by 13.8% to $242 million in 2007, and now account for 11.4% of their domestic income, according to a report from the BPI, a record label trade group. [more..]

Washington - The Entertainment Software Association (ESA), a U.S. video game publisher trade group, has announced that the state of Minnesota has been ordered by a federal court to pay the group $65,000 in attorneys' fees, expended during a challenge to the state's law banning the sale of violent games to minors. [more..]

Ogden, Utah - TopTenREVIEWS, a site that offers product reviews and pricing comparisons on consumer electronics and entertainment products and services, announced on Tuesday that it has raised $6 million in new funding from Highway 12 Ventures and Village Ventures. [more..]

Amsterdam - Video game publisher Playlogic Entertainment announced that it has raised $3 million in equity, at $1.15 a share. [more..]

London - Playfish, a U.K.-based developer of games for social media, has raised a $1 million round of bridge financing from Accel Partners, VentureWire reported. [more..]

Palo Alto, Calif. - Online social network Facebook has announced that Marc Andreessen, Netscape co-founder and current chairman of white-label social networking platform Ning, has joined its board of directors. [more..]

New York - Sundance Channel founder Robert Redford, who along with partners NBC Universal and Showtime, sold the network to Cablevision last month for $500 million, plans to produce a series of short films for mobile phones for the network, The New York Times reported. [more..]

New York - NBC Universal has promoted Vivi Zigler to the position of president of NBC Universal Digital Entertainment, where she will oversee the NBC Universal Digital Studio and NBC Digital Entertainment, including NBC.com. [more..]

New York - Viacom's MTV Games and Harmonix studio on Tuesday announced that it will add a dozen songs from The Who to the tracks available for download for its "Rock Band" game via the Xbox Live Marketplace and PlayStation Store. [more..]

Los Angeles - RealD, a provider of digital 3D movie theater projection systems, announced on Tuesday that movie exhibitor Cinemark Holdings will add up to 1,500 RealD 3D screens to its circuit. [more..]

Los Angeles - Habbo, a virtual community for teens that recently surpassed 100 million avatars created by its users, has announced a partnership with the non-profit Matthew Shepard Foundation, which was founded by the mother of 21-year-old murdered in an anti-gay hate crime in 1998. [more..]

West Hollywood, Calif. - The original creators and founders of the social network and online game Neopets, which was sold to Viacom's MTV Networks for $160 million in 2005, on Tuesday announced the launch of Meteor Games, a new independent game studio based in West Hollywood, Calif. [more..]