Englewood, Colo. - John Malone's Liberty Media Corp. on Monday announced that its board has authorized a plan to spin-off its Liberty Entertainment group, which holds a majority stake in DirecTV, GSN, Fun Technologies and Liberty Sports Holdings. [more..]

London - Eidos, the game publisher responsible for franchises including "Tomb Raider," said on Monday that Time Warner Entertainment has purchased an additional 10 million shares of the company, bringing its total holding to 19.9% of Eidos, Reuters reported. [more..]

Los Angeles - BitTorrent, the file-sharing software company founded by the creators of the peer-to-peer protocol, has returned the $17 million financing round it announced in June to investors, opting instead to take $7 million at a substantially reduced valuation of $28 million, TechCrunch reported. [more..]

New York - Toymaker Hasbro has dropped its lawsuit against the makers of "Scrabulous," Web knock-off version of the classic board game "Scrabble" that became wildly popular on Facebook, the Associated Press reported. [more..]

Needham, Mass. - TechTarget, a provider of online content about corporate IT products, has filed with the Securities and Exchange Commission indicating that it is cutting 76 full-time positions, or 12% of its total workforce, in response to current and anticipated future economic uncertainties. [more..]

Washington - A recent survey by Nielsen, the large media rating service, has found that Washington has the largest percentage of HDTV users of all large markets in the country, with a 31.1% penetration rate.
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Florham Park, N.J. - RoundBox, a provider of mobile broadcast software, announced on Monday that it has raised over $20 million in its third round of venture capital funding, led by Montagu Newhall Associates. [more..]

Toronto - NetShelter Technology Media, an online publisher of over 150 technology content sites, announced on Monday that it has closed an $11.1 million first round of financing, from Rho Ventures, GrowthWorks Canadian Fund and JLA Ventures. [more..]

San Francisco - Dotblu, the operator of an online casual games community, has raised $2 million in first round funding from investors including Maples Investments and D.E. Shaw, PEHub.com reported, citing a regulatory filing. [more..]

Brooklyn, N.Y. - Outside.in, a personalized, hyperlocal news and conversation site, announced on Monday that it has raised an undisclosed sum of new funding, from existing venture and angel investors including Union Square Ventures, the New York City Investment Fund and Betaworks. [more..]

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New York - CBS Interactive is set to relaunch the TV.com website it acquired through its $1.8 billion purchase of CNET Networks last year, PaidContent reports. [more..]

Mountain View, Calif. - Google on Monday announced that its Google Friend Connect service has been integrated with the Twitter microblogging service. [more..]

Los Angeles - Fearnet, the horror genre video-on-demand joint venture between Comcast, Sony Pictures Television and Lionsgate, has signed "The View" co-host Whoopi Goldgerg to star in and executive produce "Stream," a new sci-fi Webisode series on the site, Variety reports. [more..]

New York - Musicane, the operator of a social shopping network whose widgets are embedded on over 500,000 websites and social network profiles, said on Monday that it has signed deals to add the digital catalogs of major labels Sony Music and EMI to its offering. [more..]

Los Angeles - Video game publisher 505 Games announced on Monday that it has signed a deal with Olympic swimmer Michael Phelps to develop branded console and iPhone games. [more..]

New York - Viacom's Harmonix game studio, the unit of MTV Networks that developed "Rock Band," said on Monday that Pearl Jam will offer the reissue of its debut album "Ten" as a download for the game on the same day as its physical release on Mar. 24. [more..]

Tampa, Fla. - Phantom Entertainment, the company originally behind a PC-based broadband gaming console that never came to market, on Monday announced the launch of a new online game store, and that it has secured additional funding to mass produce its Phantom Lapboard, a gaming keyboard. [more..]