Richmond, Va. - Facing mounting red ink and evaporating consumer confidence, consumer electronics retailer Circuit City Stores said on Monday that it plans to close 155 stores, or more than a fifth of all of its locations. [more..]

Los Angeles - A group of over 500 Sirius XM Radio shareholders has filed a derivative lawsuit against the company's management, alleging violations of federal racketeering laws, as well as breach of fiduciary duty and the Sherman Act. [more..]

Paris - The French Senate has approved a "three-strikes" law proposal for punishing repeat file-swappers in the country, with the measure now moving to a vote in the French Parliament, according to reports. [more..]

New York - With Americans set to cast their votes for president on Tuesday, new figures from Internet audience measurement firm Nielsen Online show that visitors to the website of Democrat Barack Obama have outpaced those to the site of Republican John McCain by a nearly 2-1 margin. [more..]

Cambridge, Mass. - Harvard University Library will not take part in the new copyrighted works section of Google's massive book-scanning project, PaidContent reported, citing an article in the Harvard Crimson. [more..]

Los Angeles - News Corp.'s MySpace online social network announced on Monday that it has partnered with online video advertising company Auditude and Viacom's MTV Networks, to enable ads to be inserted in audience-uploaded videos on MySpace. [more..]

Seattle - Online game developer and publisher WildTangent has shuttered its internal development studio and laid off 20 of its employees, TechFlash reports. [more..]

Redwood City, Calif. - RockYou, a developer and distributor of social media applications, announced on Monday that it has raised $17 million in new funding from Softbank and SK Telecom Ventures, which will cap its third round of financing at $52 million. [more..]

Los Angeles - Online social network and search service Reunion.com and people search engine Wink.com announced on Monday that they have agreed to merge, and will launch an entirely new brand and website early next year.
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Zurich, Switzerland - Diva, a Switzerland-based video-on-demand start-up, announced on Monday that it has raised an undisclosed amount of funding from Creathor Venture. [more..]

Burbank, Calif. - Point.360, a provider of integrated media management services, announced on Monday that it has acquired Video Box Studios, Inc., a provider of 3D animation, visual effects, motion design and digital finishing services. [more..]

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New York - Time Warner's AOL on Monday announced the launch of When.com, a hyper-local online event guide. [more..]

San Francisco - Personal video webcasting service Justin.tv has been served with legal threats by the broadcast rights owners to the English Premier League, Britain's top soccer league, CNET News.com reports. [more..]

Los Gatos, Calif. - BayTSP, a provider of online anti-piracy services, announced on Monday that five Hollywood movie studios are now using its Content Authentication Platform to identify their content on user-generated content and other video hosting sites. [more..]

New York - Classical music label Naxos on Monday announced that its ClassicsOnline.com Web store now offers nearly 22,000 albums for purchase and download as 320 kbps, DRM-free files. [more..]

Los Gatos, Calif. - Online DVD rental service Netflix has added Mac support to its instant computer streaming service, which lets Netflix subscribers stream a range of its library of movies and TV episodes directly to their computers. [more..]