• Singer-songwriter Jewel has signed a multi-album deal with the Valory Music Company, a new label created by Big Machine Records' president and CEO Scott Borchetta. (Billboard.biz)

• Pali Research's Rich Greenfield has put a "sell" recommendation on Warner Music Group's stock and set a target share price of $7.50. (Silicon Valley Insider)

• Here are a few recaps of Wednesday's FCC hearing of media ownership in D.C.: Washington Post, Washington Times and New York Public Television.

• PassAlong Networks inked a deal to include the Razor & Tie MP3 catalog in its StoreBlocks music library. The StoreBlocks platform in behind f.y.e.'s download store, among many others. (Press release)

• Napster narrowed its losses in Q2 2007 to $5.1 million on revenues of $30.5 million. That was a good improvement over last year's $9 million loss. A $5 million loss is expected in Q3. Napster reported 750,000 subscribers at the end of the quarter, down from 770,000. In January 2007, Napster announced it would pay $15.6 million for the 350,000 subscribers to AOL's shuttered music service. Napster's year-end estimate was 566,000 subscribers. With AOL's subscribers the year-end estimate was bumped up to 916,000. Those AOL subscribers -- the ones that stuck around -- have boosted Napster's subscriber base but it looks like about half or so didn't stay with the service. (AP)

• Today I will moderate a panel at Net Impact called "Greening the Music Industry." You can follow Net Impact throughout the weekend at OwenBloggers.com's Net Impact page.