• Retail chain Hastings reported a slight increase in profit in Q4 2007 and a 100% increase in profit for the fiscal year. Music sales dropped 15.3%, and the company plans to reduce music inventory by 15-20%. (Billboard.biz)

• Comments on the DOJ's approval of the Sirius-XM meger: Sen. Byron Dorgan (D-ND) called it a "blatant disregard for the public interest" and, not surprisingly, the National Association of Broadcasters is "astonished."

• The courtship of the Rolling Stones. "The negotiations pose a high-profile test for EMI and its new private equity owner, Guy Hands, to prove that they can retain top talent." (Financial Times)

• imeem.com will open its platform and database of music and video to outside developers. (News.com)

• Saying its artistic integrity has been threatened, the Smashing Pumpkins has sued Virgin Records for allegedly using the band's name in Amazon.com's MP3 promotion with Pepsi. (BBC News)

• Sony BMG CEO Rolf Schmidt-Holtz talks about a Sony BMG subscription services with a German newspaper. Looks more like a wish list than an action plan. (Alley Insider)

• Deeming them too violent, Universal Records has taken off three songs from U.S. version of new Be Your Own Pet release, Get Awkward (Ecstatic Peace). Go to the link, read the lyrics and judge for yourself. Hey, maybe this is just the thing to get Americans to pay attention to the band...especially if somebody pulls out the word censorship. (Pitchfork)

• Songwriter Bill Luther has signed with Sony/ATV Nashville. (Music Row)