Mumbai, India - News Corp.'s (NYSE: NWS) MySpace on Thursday officially launched its latest localized site in India, promoting the new service with a rock concert featuring local artists, and a developer platform workshop. The company also said it signed a deal with Star TV, India's largest television network, to create an original network television program, "Campus Star," that will be featured on Channel V. The new show, currently airing on television in India, is a nationwide college talent competition featuring celebrity judges and the voting MySpace audience.

New York - The Soros Economic Development Fund (SEDF), Omidyar Network, and Google.org (NASD: GOOG) on Tuesday announced a new $17 million investment company for small and medium-size businesses in India, "to create job opportunities and spur greater economic participation for a larger segment of the population."

Los Angeles - Billionaire investor George Soros has paid $100 million for a 3% stake in Reliance Entertainment, a multi-platform entertainment provider in India, which was valued at $3.3 billion for the deal.

Bangalore, India - mGinger, a provider of mobile advertising services, has raised $2 million in its first round of venture capital financing, led by Draper Fisher Jurvetson, ContentSutra reports.

Singapore - Viacom's (NYSE: VIA) Paramount Digital Entertainment unit has partnered with Hungama Mobile to develop and distribute mobile content for Paramount titles in India, Variety reports. The mobile content will be released to promote Paramount's theatrical releases in the country. "This deal is really all about synergy and having Hungama Mobile do for us what they do for Bollywood releases," Paramount Digital Entertainment VP, Interactive and Mobile Entertainment, Asia Pacific, Pradeep Mittur, told Variety. "At this stage, this relationship is more about promotion of our movies, than trying to develop a new revenue stream."

Washington - TinselVision, a broadband video-on-demand service that delivers Indian TV and Bollywood films overseas, announced that it has raised more than $3 million in its second round of venture capital financing, led by Innovative Entertainment Limited.

Washington - Tinsel Cinema, a company developing an Internet video-on-demand service targeting South Asian communities in the U.S., U.K. and Canada, announced on Monday that it has raised $3 million in its first round of funding, led by Innovative Entertainment Limited.

*A correction has been made to this story.

Mumbai, India - Kreeda Games, an India-based publisher of massively multiplayer online games, has raised "less than $10 million" in new financing, from IDG Ventures and SoftBank China & India Holdings, India Times reported.

New York - Media conglomerate Viacom announced on Tuesday that it has created a joint venture with India-based TV18Group, which will distribute TV, film and digital media content across numerous brands in India.

Bangalore, India - Minglebox, a social networking site in India, has raised $7 million in funding from Sequoia Capital India, contentSutra reported.

Dulles, Va. - Reflecting the increased importance of the Indian market, AOL said that it has launched a new Internet portal in India, offering local news and information, as well as free services such as email and instant messaging, to the Indian market.

Mumbai, India - Online game developer Games2Win has raised about $5 million in its first round of venture capital financing, led by Clearstone Venture Partners and SVB Financial Group, PEHub.com reported.