1. Social media site Buzznet confirmed rumors that Universal Music Group is a new investor in the company. The two revealed yesterday that UMG has taken an equity stake in the growing site in return for providing content and access to artists.

2. The recording industry's trade group spent nearly $2.8 million pumping up the volume on its lobbying on Capitol Hill last year. The Washington-based Recording Industry Association of America lobbied on a bill to limit fees charged to Internet radio stations for music broadcasts and on efforts to limit copyright violations, especially overseas. The trade group spent $2.1 million lobbying in the second half of 2007, according to a form posted online Feb. 12 by the Senate's public records office. It spent $659,000 on lobbying in the first half of the year. Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.

3. Nick Gatfield, who has just stepped down as president of Island Records U.K., is expected to be appointed EMI head of A&R for North America and the U.K.,

4. According to Hollywood Reporter, Universal Music Group negotiated a deal with Nokia to receive upwards of $35 per phone for pre loaded music.

5. Independent Record Store Day this Saturday. visit your local indie retailer and pick up a copy of your favorite band and support indie music.