Media Roundup: "Don't Click" Message Hijacks Twitter, Sony Reaches Agreement with YouTube and More

(MoneyWatch)  Facebook devalued to $3.7 billion -- While once evaluated as high a $15 billion, the details from Facebook's recent settlement with ConnectU reveal a lower valuation of $3.7 billion. The original number stems from an agreement with Microsoft where the software maker purchased a 1.6 percent share of Facebook for $240 million. The Associated Press was able to circumvent shoddy encryption techniques on court documents to reveal a current stock price of $8.88 per share. [Source: Mashable]

"Don't Click" message hijacks Twitter -- The microblogging Web site Twitter had a security flaw exposed yesterday that hijacked some users' accounts to unknowingly send links to friends. The hack placed a message that stated "Don't Click" followed by a link. When clicked the message and link were reposted, continuing the cycle. Twitter has since announced a fix. [Source: ReadWriteWeb]

Baltimore Sun closes bureau -- The Baltimore Sun has closed its suburban bureau and will move the 15 affected employees to its downtown building. The Sun's owner, Chicago-based Tribune Co. filed for bankruptcy last year. The company also announced plans to begin another round of staff reductions. [Source: Editor & Publisher]

Sony reaches agreement with YouTube -- Sony Music Entertainment has reached an agreement with YouTube to keep Sony artists on the video uploading Web site. Universal, EMI and Warner Brothers still have not reached an agreement. The four major record labels pulled their videos off of YouTube last month after a disagreement over revenue sharing. [Source: CNET]

Midway declared bankruptcy -- Video game publisher Midway has declared bankruptcy because of an inability to make a $150 million debt payment that is due today. The maker of Mortal Kombat was previously owned by Viacom and CBS before being sold to investor Mark Thomas. The total debt owed by the company is $240 million. However Midway's latest game, Mortal Kombat vs. DC Universe, is among the best selling in the series. [Source: Los Angeles Times]

Google stops radio ad program -- As part of a recent belt-tightening effort, Google has stopped its radio advertising program. Because of the cut, 40 employees will lose their jobs. However, the company said it will attempt to place those employees elsewhere. Google has already announced the cancellation of a print advertising program. [Source: CNET]

YouTube offers downloads -- Several videos on the video uploading site YouTube now feature a purchase button. In what is being labeled a test, the paid downloads option will only be available to a select group of YouTube partners. Most downloads are priced at $1. Ever since purchasing YouTube in 2006, Google has struggled to monetize the site. [Source: ReadWriteWeb]