EMI sues VideoEgg, Hi5 and others for copyright infringement
EMI is targeting video sharing services like Hi5 and VideoEgg for copyright infringement.
The company claims that users of these services have uploaded media content which is owned by them.
The lawsuit includes 10 other unnamed defendants.
Market sources tell that EMI was in talks with these companies on a [...]

AOL completes Bebo acquisition
US based internet company AOL has announced that they have now completed the acquisition of social networking service Bebo.
Bebo is very popular in Europe. However it is a relatively smaller player in this market dominated by MySpace, Facebook and Orkut.
Hi5 and Friendster are some other players in the social networking industry.
AOL said [...]

Microsoft collaborates with Facebook, Bebo, Hi5, LinkedIn and Tagged
Microsoft has announced that they are now collaborating with Facebook, Bebo, Hi5, LinkedIn and Tagged to boost their Windows Live service.
The software giant would now work with these social networks to enable their users to easily and securely move their contacts and relationships between services.
A company representative [...]

News Corp hoping for USD 1 billion revenues from online services
MySpace.com parent company News Corp has said that they expect to make revenues touching USD 1 billion from their online services this fiscal year.
This is however below their previous expected figures exceeding USD 1 billion. They expect their margin to be around 20% of this [...]