London - Terra Firma, the private equity firm that acquired major record label EMI in 2007 for $4.7 billion, is in restructuring talks with Citigroup that could see the label receive up to $486 million in new equity financing, the Financial Times reported. [more..]

Sun Valley, Idaho - News Corp. CEO Rupert Murdoch intends to reposition MySpace, the online social network his company purchased for $580 million in 2005, "as an entertainment portal," where "people are looking for common interests," The Wall Street Journal reported. [more..]

New York - AOL is likely to shed at least several hundred more jobs over the coming months as it refines its focus as a newly independent company, Silicon Alley Insider reported. [more..]

New York - Under pressure from the Chinese government, Apple may release an iPhone in China that lacks the Wi-Fi connectivity present in all previous versions of the device, BusinessWeek reported. [more..]

San Francisco - Warner Music Group is once again negotiating terms for licensing music videos to Google's YouTube, following a dispute that saw Warner pull its video catalog from the site in December 2008, CNET News.com reported. [more..]

London - The percentage of U.K. music fans who use file-sharing applications every month dropped by nearly a quarter between December 2007 and January 2009, according to a report from The Leading Question and Music Ally. [more..]

New York - McGraw-Hill, the publisher of BusinessWeek magazine, has hired the investment bank Evercore Partners to help it explore strategic options, including a possible sale of the 80-year-old publication. [more..]

San Francisco - Streaming music service Pandora has raised $35 million in a new round of venture capital financing, led by Greylock Partners, PEHub.com reported. [more..]

Arlington, Va. - Just 25 venture capital funds -- a 13-year low -- raised $1.7 billion in the second quarter, according to new figures released by Thomson Reuters and the National Venture Capital Association (NVCA). [more..]

Los Angeles - Digital content production studio ManiaTV, which shut down in March after several rounds of layoffs and attempts to sell the company, has been acquired by original founder Drew Massey and will be relaunched, The New York Times' Bits blog reported. [more..]

Toronto - QuickPlay Media, a provider of mobile video management services, announced on Monday that it has raised $12 million through a private placement of its shares with investors including General Catalyst Partners, JLA Ventures and Ventures West. [more..]

Chelmsford, Mass. - OurStage, a provider of online publicity and marketing services for bands and musicians, raised $3 million in its second round of venture capital, TechCrunch reported. [more..]

Lansdale, Penn. - ProtonMedia, a provider of virtual world technology for businesses, has raised $2.5 million in new venture capital financing, PaidContent reported, citing an SEC filing. [more..]

Boston - Tributes Inc., a Boston-based provider of online obituary news, announced on Monday that it has raised $1.2 million more in its first round of venture capital, bringing the total raised in the round to $5.4 million. [more..]

n/a

Stockholm, Sweden - The stock price of Global Gaming Factory, which shot up 200% last month when it announced it would acquire file-sharing hub The Pirate Bay, has now dropped back down to where it was before the sale, TorrentFreak reports. [more..]

Redwood City, Calif. - Video game developer and publisher Electronic Arts has formed a new in-house studio that will develop 99-cent games for Apple's iPhone, TouchArcade reported. [more..]

Novato, Calif. - Sonic Solutions said on Monday that it plans to offer a Roxio CinemaNow widget, which will allow consumers with Internet-connected TVs running Yahoo TV Widgets to rent and purchase movies directly through their televisions. [more..]

Seattle - Lexcycle announced on Monday that its Stanza e-book reader application for the Apple iPhone and iPod touch has now been downloaded more than two million times. [more..]