• S&P reaffirmed Warner Music Group's BB- debt rating and said it expects the company will be able to meet its financial covenants in the near term. There was actually a rare bit of optimism in the analysis. "Our continuing concerns about Warner Music's profitability as it transitions to a digital business model are somewhat tempered by the termination of its dividend and its focus on significantly reducing acquisitions," S&P said. (Thomson Financial)

• Universal Music Group will partner with Qualcomm to expand its direct-to-consumer mobile offerings. (Press release)

• Sony BMG's promotion department plays musical chairs and retains all staffers. (Music Row)

• An article on HMV's music strategy: fewer CDs, more vinyl and in-store downloads and the lure of free wifi. "Whether young people will choose to meet in an HMV store at the weekends has yet to be seen, but the retailer hopes it is a step in the right direction." (The Times)

• A profile on Sony's Iron Collectibles, a small company that was founded to sell art-quality reproductions of photos from Columbia Records' archives. “We’re looking to take advantage of all the assets of the company, not just the audio recordings,” said John Ingrassia, president of Sony BMG Music Entertainment’s commercial music group." An executive at Warner Music Group's Rhino Records said the label is looking at ways to turn Warner's archive into a business. Be sure to check out the article's slideshow. (New York Times)

• Music for airports: EMI has licensed its catalog for sale at MEDIAnywhere's download kiosks. (Music Week)

• Live Nation is (still) considering a Pittsburgh-area location for a 5,000-seat amphitheater. (Pittsburgh Tribune-Review)

• The IFPI's Recording Industry in Numbers 2008 is available for pre-order. (IFPI)

[music jobs] Wanted: A Software Engineering Manager who Loves Music;Boston, MA. more music jobs.