Redwood City, Calif. - Video game publisher Electronic Arts said on Monday that it will let its offer of $25.74 per share to acquire rival Take-Two Interactive to expire at midnight tonight. [more..]

Washington - Television remains the top news source for Americans, while younger people are relying more heavily on Web sources and most consumers are reading fewer newspapers, according to a biennial survey published by the Pew Research Center. [more..]

McLean, Va. - Gannett, the publisher of USA Today and 84 other daily newspapers, said that it plans to eliminate 1,000 jobs -- including 600 layoffs -- across its newspaper operations. [more..]

Oakland, Calif. - Streaming Web radio service Pandora, which claims about 1 million daily users, says that the recent doubling of royalty payments it must pay to copyright holders may soon force the company to turn off its streams, co-founder Tim Westergren told the Washington Post. [more..]

New York - Newsgathering agency the Associated Press has settled the copyright and trademark infringement lawsuit it filed last October against news aggregation service Moreover Technologies and its parent company, VeriSign. [more..]

London - U2 frontman Bono is allegedly the source of an online leak of four songs from the band's forthcoming album, after a passerby overheard him blasting the music from his villa in the South of France and recorded the tracks, according to a report in The Sun. [more..]

Santa Monica, Calif. - ArtistDirect, an online network focused on music and film that claims over 45 million unique monthly visitors, announced on Monday that it has signed lyrics licensing agreements with Universal Music Publishing and EMI Music Publishing, and plans to launch a new song lyrics section on its site in the fall. [more..]

Dulles, Va. - Two weeks after initial reports surfaced about the deal, Colorado-based Socialthing has confirmed its acquisition by AOL. [more..]

New York - Lewis Dvorkin, the former senior vice president of AOL News and Sports, has landed an undisclosed amount of funding for his new venture, an online news network called Public Post, PaidContent reported. [more..]

New York - The Associated Press recently reported on Mygazines.com, a site where at least 16,000 users trade uploaded editions of popular magazine titles for free. [more..]

New York - Warner Music Group announced that it has signed new agreements with Microsoft's Xbox Live Marketplace and U.K. digital retailer We7, to sell music videos and DRM-free MP3 downloads, respectively. [more..]

Santa Monica, Calif. - Universal Music Group's Universal Music Enterprises (UMe) unit has introduced the "Playlist Your Way," a new release format that combines greatest hits CDs with an included download card that unlocks additional content online. [more..]

Los Angeles - The newly merged satellite radio firm Sirius XM plans to introduce an application for Apple's iPhone that will allow users to stream its programming, Orbitcast reports. [more..]