Hollywood, Calif. - Buzznet, a music-focused social media community, on Tuesday announced that it has acquired yet another music site, this time purchasing alternative music Web zine Absolute Punk for an undisclosed sum. The deal follows Hollywood-based Buzznet's recent acquisitions of music blogs Stereogum and Idolator, and a $25 million round of financing earlier this year from investors that included Universal Music Group.

Los Angeles - Online music community Buzznet, which recently acquired music blogs Stereogum and Idolator, has announced an online promotion for the release of Interscope/Geffen/A&M Records' artists Weezer's new single, "Pork & Beans." The "online food fight" will allow Buzznet users to toss/post pork and beans on one another's profile pages. The band and Buzznet will also make a donation to Conscious Alliance, a non-profit that distributes food and resources to U.S. communities most in need, at the end of the promotion.

Los Angeles - Confirming earlier reports, Universal Music Group announced on Thursday that it has made an equity investment in Buzznet, the music-focused social media site, and will share revenue with and be directly involved in developing editorial programming for the site. Financial details of the deal were not disclosed.

New York - Gawker Media, the blog network that includes Gawker, Defamer, Gizmodo, Wonkette and Jezebel, announced on Monday that is selling its Idolator, Gridskipper and Wonkette sites. "To be blunt: they each had their editorial successes; but someone else will have better luck selling the advertising than we did," Gawker Media founder and publisher Nick Denton said in a post on Gawker.com.

Los Angeles - Buzznet, a music-focused social media site, has raised as much as $25 million in its third round of financing, from investors including Universal's Interscope Records, PaidContent reports.

New York - The owners of Sterogum, an indie music blog founded in 2003, have exchanged their equity stakes in the venture for a share of music-focused social network Buzznet, in a deal that valued Stereogum at around $5 million, The New York Post reported.

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GigaMedia Limited today announced the appointment of Thomas Hui as President and Chief Operating Officer of the Company with immediate effect. Mr. Hui has served as the Chief Financial Officer of the Company for the past three years -- and will continue to oversee the Company's financial functions in an interim capacity until the appointment of his replacement.

http://www.gigamedia.com.tw

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Veoh Networks, an internet television company, today announced that Steve Mitgang has been appointed as the company’s new Chief Executive Officer. Mitgang comes to Veoh from Yahoo!, where he was Senior Vice President of the global team. He succeeds Veoh’s founding CEO Dmitry Shapiro, who will now assume the role of Founder and Chief Innovation Officer with active involvement in the business and a focus on advancing Veoh’s technology platforms and consumer standards. Dmitry will continue to represent the company’s thought leadership within the industry.  Veoh has also named Jennifer Betka as Senior Vice President of Marketing. Betka joins Veoh from Sirius Satellite Radio.

Hollywood - Buzznet, an online social network with 6 million users, announced on Thursday that it has raised $6 million in a new round of venture capital financing, led by Redpoint Ventures and Anthem Venture Partners.