• Trans World, owner of such music retailers as f.y.e., received a buyout proposal from its largest shareholder, Chief Executive Officer Robert Higgins. The offer of $5 per share is a 29% premium over Thursday's closing price. Privately-owned companies are well suited to make the kinds of turnarounds that are needed in entertainment retail these days. But Trans World is going to turnaround and become what? f.y.e. is a retailer without an identity, and any plan to bring more digital into brick-and-mortar is automatically suspect. (Reuters)

• Jeff Leeds does a solid story on the majors' new thang: the 360-deal artist contract. Leeds talks to a few detractors, who not surprisingly are in the lines of business labels are currently entering. It's way too early to say much about the deals other than the fact that labels will sign more and more of them. At the root of the issue is a very basic question: Wouldn't it be good for everybody -- artist, label, fans -- if labels put less pressure on album sales? Follow that with another question: Should the artist feel comfortable lumping together so many revenue streams? It's gonna be a fun couple of years until we get a lot of solid case studies with which to form a better opinion. (New York Times)

• It's official: Radiohead will release In Rainbows on CD through ATO Records. The band will release the album on its own imprint, TBD Records. Maybe this isn't a good time to cue all that "The CD is Dead" talk, huh? (Billboard.biz)

• Microsoft has entered into talks to acquire Musiwave SA, maker of software that allows mobile operators to offer various paid products to their subscribers. Microsoft says if the acquisition goes through it will integrate Musiwave into its line of products (such as Zune and Windows Live). (Information Week)

• Koch has inked a physical and digital distribution deal with Fat Beats Records. Upcoming Fat Beats albums will be by Akrobatik and Black Milk. (All Hip Hop)

• The Guardian has an article on mobile music services and how jazzed up labels are about them. The head of digital at Universal's international division believes such services could offset falling CD sales without one year. Analysts aren't so sure. One thing they may be overlooking, unless they've happened to buid it into their industry revenue models: As these kinds of subscriptions take off, it's very likely the rate of CD sales decline could actually increase. Subscriptions may substitute for music purchases rather than instigate an up-sell. (The Guardian)

• EMI Group has added food executive Pat O’Driscoll to its investor board. O'Driscoll is the former chief executive of Northern Foods. I see a trend here. Former EMI CEO Eric Nicoli was previously the chairman of United Biscuits. (Variety)