• Mobile carrier Amp'd, which counts MTV and Universal Music Group as its investors, has shut down its service and owes over $100 million to creditors. The company had filed for bankruptcy last month. (Variety)

• Sanctuary has sold its 49% share in the Rough Trade label to the Beggars Group for £800,000 (US $1,651,507). (The Guardian)

• XM and Sirius promised that in the event the two satellite companies merge, the companies will offer a variety of subscription packages. The lowest-priced package would get 50 channels and cost $6.99 a month. Said an analyst, "If the Department of Justice approves the merger, it will be difficult for the FCC to say no." (Reuters)

• Dallas-based hip hop label Clout Records has inked a distribution deal with EMI. Cloud will release Lil Prince's Young and the Wreckless on September 25. (Hip Hop Elements)

• Kansas City-based rock band Vedera has signed with Epic Records. (MySpace, via Kings of A&R)

• Oklahoma state representative Randy McDaniel has proposed a study to find out what incentives Nashville and other cities offer musicians. McDaniel sits on a committee that deals with Oklahoma's tourism, arts and culture. (The Journal Record)

• Ted Cohen, a former EMI exec and now part of TAG Strategic consulting, is on the board of advisers at Txttunes. The company just announced the launch of its text-based distribution and social networking service. Fans can use their cell phones to purchase and download MP3s. Artists can use Txttunes to send text messages to fans. (Press release)

• A profile of Ventura, CA-based Salzer's, where vinyl sales are up 20% this year. (Ventura County Star)

• AllHipHop.com got a makeover and has some new features. The site has partnered with Amazon.com to create an e-store that uses Amazon.com's technology and content. AllHipHop is working with iTunes on a Black Music Month promotion. The site will give away 250,000 promotional codes that can be redeemed for a free mix tape at iTunes. (Press release)