Tokyo - Japan's Sony Corporation has reported a quarterly profit decrease of 72%, despite an uptick in PlayStation 3 sales during the period, The New York Times reported.
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San Francisco - A man who pleaded guilty to camcording the films "28 Weeks Later" and "Enchanted" last year in a District of Columbia movie theater has been sentenced to 21 months in prison, Wired.com reports. [more..]

Boston - A man sued for copyright infringement for allegedly sharing seven songs on the Kazaa file-sharing network is now mounting a countersuit, with the help of a Harvard Law School professor and his cyberlaw students, who are arguing that the Recording Industry Association of America (RIAA) is abusing the legal process. [more..]

McLean, Va. - Gannett, the publisher of USA Today and 84 other daily newspapers, plans to cut about 10% of jobs -- upwards of 3,000 positions -- at its local papers, Reuters reported, citing an internal memo. [more..]

Los Angeles - News Corp.'s MySpace online social network on Wednesday touted the results of a survey it commissioned from The Nielsen Company, which found its site is the most frequently cited Web source of information for movies among consumers 15-24 years old. [more..]

Boston - The Christian Science Monitor, a Boston-based, international news publisher, has announced plans to discontinue its daily print product and shift to a daily online publication. [more..]

Fremont, Calif. - Logitech, a maker of computer and gaming peripherals, announced that it will acquire SightSpeed, a provider of Internet video communications services, for about $30 million in cash. [more..]

Andover, Mass. - Helium, an online "citizen journalism hub," announced on Wednesday that it has raised $17 million in its first round of venture capital, led by Signature Capital. [more..]

Washington - SB Nation, a new network of sports-related blogs, has raised a "mid-seven-figure" sum of venture capital financing led by Accel Partners, SportsBusiness Journal reports. [more..]

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The Blackberry Storm was the most commonly searched product with 3.5x the volume of searches for Blackberry Bold and 3.9x the volume of the G1, blogs Heather Dougherty of Hitwise. [more..]

Philadelphia - Major League Baseball will today stream the first five-and-a-half innings of Monday's World Series Game 5 that was suspended due to rain, before the game is scheduled to resume later this evening. [more..]

New York - The New York Times has opened its film review archives dating back to 1924, and is allowing third parties to integrate them into their own sites, Silicon Alley Insider reports. [more..]

San Francisco - Social music service Imeem on Wednesday announced a worldwide licensing and marketing partnership with independent label groups Matador and Beggars Group, which will make their entire music and video catalogs available for free streaming on Imeem. [more..]

New York - Mobile entertainment portal Thumbplay on Wednesday announced the launch of a new full-song mobile music download service, which at launch offers more than 1.5 million songs from labels including Universal Music, EMI, and independents distributed by The Orchard and INgrooves. [more..]

New York - Didiom on Wednesday announced the beta launch of its mobile application that allows users to wirelessly access their home computer's iTunes library on over 200 mobile devices, including BlackBerry and Windows Mobile smartphones. [more..]

Culver City, Calif. - Sony Pictures Entertainment on Wednesday named Eric Berger, currently its senior vice president of digital networks, to head Crackle, the company's online video network. [more..]