The FCC is setting rules for auctioning the 700 MHZ spectrum, formerly used for Analog TV. Analog will stop using the spectrum in February 2009.
YAHOO has launched a searchable database of music lyrics. The database includes the official versions of lyrics to over 400,000 songs, supplied by music publishers. Yahoo and the rights-holders will share revenue from advertising.
AMAZON doubled 1Q profits. The success of its membership program and downloadable movie service were contributing factors.
MYSPACE will launch a reality show with producer Mark Burnett. The program will air on MySpace, but also seek traditional network distribution.
VONAGE is allowed to sign up new customers, while the Verizon lawsuit continues. Vonage shares jumped almost 30 percent on the news.