Reuters - It may have seemed like a fad at first, but the resurgence of vinyl is now turning into a nice niche business for the major labels. With EMI's announcement that it would reissue eight classic albums in the format, all four majors are now onboard the vinyl bandwagon.

AP - LOS ANGELES (AP) — The Screen Actors Guild rejected the latest contract offer from Hollywood studios on Thursday but claimed it was willing to negotiate and presented a counterproposal.

Reuters - Australian two-time Oscar nominee Judy Davis on Friday won A$140,000 ($135,230) plus costs in a defamation suit against local media company News Ltd, controlled by media mogul Rupert Murdoch.

Reuters - The chairman of the Federal Communications Commission said on Friday he would consider imposing further conditions on Sirius Satellite Radio Inc's acquisition of XM Satellite Radio Holdings Inc if it were needed to win support of other FCC commissioners.

Reuters - In Hollywood, even "final offers" seem to get sequels. The Screen Actors Guild on Thursday delivered a counter-bid to the contract proposal major studios had presented the union last week as a take-it-or-leave-it proposition, and the two sides spent a few hours discussing their positions before parting company again.

Reuters - Welcome to the July crush. Eight wide releases will hit North American theaters during the next three sessions, including three on Friday: the superhero sequel "Hellboy II: The Golden Army," the 3-D adventure release "Journey to the Center of the Earth," and the Eddie Murphy comedy "Meet Dave."

AP - Christie's auction house has sold John Lennon's handwritten lyrics to "Give Peace a Chance" for $833,654.

Reuters - In Hollywood, even "final offers" seem to get sequels.

Reuters - Democrat Barack Obama appeared to be the favorite White House contender among media moguls at an annual Idaho retreat, even if they were not so certain how an Obama victory would affect their businesses.

AP - LOS ANGELES (AP) — The Screen Actors Guild rejected the latest contract offer from Hollywood studios on Thursday but claimed it was willing to negotiate and presented a counterproposal.