Media Roundup: Papers Drop AP, TV Guide Sells for $1, Facebook Music in the Works, and More

Troubled papers are canceling their A.P. service -- Subscribing to the Associated Press news service, at a cost of around $1 million a year, is an expense fewer and fewer newspapers can afford. [Source: The New York Times]

Private equity fund buys TV Guide for one dollar -- The 55-year-old magazine lost $20 million last year. To unload their lemon, Macrovision sweetened the deal with a $9.5 million loan. [Source: Advertising Age]

Facebook may launch a music store -- If rumors are right, the social-networking site is considering its own music service. Sounds like a me-too move after the launch of MySpace Music last month, but it may have legs since Facebook just edged out MySpace in unique visitors worldwide. [Sources: Ars Technica via Portfolio]

Screen Actors Guild calls in the feds -- As contract talks with the studios stall, SAG members are divided on whether to strike. The guild hopes a federal mediator will move things forward. [Source: The Los Angeles Times' Entertainment News & Buzz]