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Microsoft Reverses Policy, Allows Gay Gamertags on Xbox Live

Redmond, Wash. - Responding to criticism, Microsoft (NASD:  MSFT) has changed a controversial policy on its Xbox Live online game service that prevented users from signing up...

Activision Sued by Fired Studio Heads for $36 Million

Santa Monica, Calif. - Video game publisher Activision (NASD: ATVI) was sued this week by the heads of its Infinity Ward studio, who say they were wrongfully fired...

Kwedit Lands $3.3 Million for Virtual Payment Platform

Mountain View, Calif. - Kwedit, the developer of a payment platform for virtual goods and social games, has raised $3.3 million in a new round of funding...

MTV Games Launches Rock Band Network Music Store

New York - Viacom's (NYSE: VIA) MTV Games and developer Harmonix on Thursday launched the Rock Band Network Music Store, an online store featuring user-created tracks that...

WSJ: Sony to Target Apple With New Series of Portable Devices

Tokyo - Japanese electronics giant Sony (NYSE: SNE) is planning a series of portable devices aimed at capturing a slice of the growing market from Apple (NASD: AAPL),...

Former MySpace CEO DeWolfe, Austin Ventures Buy MindJolt

San Francisco - Former MySpace CEO Chris DeWolfe, along with fellow MySpace co-founders Colin Digiaro and Aber Whitcomb, on Thursday announced that they have teamed with venture...

Social Games Publisher Playdom Acquires Offbeat Creations

Mountain View, Calif. - Social games publisher Playdom announced on Wednesday that it has acquired Offbeat Creations, a developer of games for Facebook. Financial terms of...

Exponential Entertainment Lands $700K for Social Games

Seattle - Exponential Entertainment, a developer of movie-focused online social games, has raised $700,000 in new funding from angel investors including Band of Angeles, VentureBeat reported. The company...

EA to Integrate Major League Gaming Tourneys With Sports Titles

Redwood City, Calif. - Video game developer and publisher Electronic Arts (NASD: ERTS) announced on Tuesday that it has partnered with Major League Gaming, a professional video game...

THQ to Shutter Finland-based Mobile Game Studio Universomo

Agoura Hills, Calif. - Video game publisher THQ (NASD: THQI) has shuttered its mobile game studio in Finland, and says going forward it will source mobile game...