EMI has joined the other three major record labels in distributing music videos on YouTube, the companies announced today.

Hoping to stake a claim in the popular social networking space, CBS has purchased music recommendation company Last.fm for $280 million.

It seems that regulators are increasingly concerned with Google, both in the United States and abroad. The latest news is that the Federal Trade Commission has decided to investigate Google's planned $3.1 billion acquisition of DoubleClick, according to The New York Times.

Facebook chief executive and founder Mark Zuckerberg this week unveiled plans to allow other companies and individuals to develop new features for the social networking site.

Nearly six in 10 Web users (59%) have watched online video ads, according to a new study by The Kelsey Group. "YouTube has largely popularized the concept of watching short videos on a computer screen and has likewise familiarized consumers with the idea of watching short video ads," states the report.

Spam's on the rise, but U.S. Web users are becoming increasingly nonchalant about it, according to a new report by the Pew Internet & American Life Project.

CNN will build out its local news offerings through a deal with Internet Broadcasting, which runs Web sites for 70 local TV stations, the companies said today.

Look for Yahoo to join Google and Microsoft in soon making a 10-figure acquisition. That's according to the U.K.'s Daily Telegraph, which reported Sunday that Yahoo aims to acquire social networking site Bebo for up to $1 billion.

In what is proving to be the most concentrated - and highest valued - feeding frenzy of digital advertising services companies ever, Microsoft today announced a deal to acquire aQuantive, Madison Avenue's last big independent digital shop, for $6 billion. The deal comes on the heels of a breathless buying spree that has included Publicis' $1.3 billion acquisition of Digitas, Google's $3.1 billion acquisition of DoubleClick, and various smaller, but nonetheless important strategic buys that are reshaping the infrastructure of the digital marketing services industry.

A federal appeals court this week boosted Google's image search, vacating a trial court's injunction banning the search giant from displaying thumbnails of pictures owned by adult entertainment company Perfect 10. The 9th Circuit found that the display of the thumbnails is probably a permissible fair use of the material, even if the images themselves are pirated.