NEWS BRIEF: Facebook Fallout, WMG Exec Shifts?, Twitter + Pepsi = Music, Megaupload & More

Facebook stock fell to the $28 range on Tuesday, and fallout from the less than stellar IPO appears to be rippling through music tech, as well. VEVO is apparently dialing back it's IPO ambitions; and Spotify has yet to close on its latest major funding round. Pandora stock also retreated into the $10 range, erasing recent gains.

• WMG is actively seeking a replacement for caretaker CEO Stephen Cooper according the NY Post. The fate of senior exec Lyor Cohen is unclear. He's reportedly working without an new contract.
• Twitter Signs Up Pepsi for Big Music Promotion (Media Memo)

MORE:

• Megaupload Wins Crucial Evidence Disclosure Battle With US Govt. (TorrentFreak)
• Samsung Music Hub Takes on Just About Everyone (NYT)
• Google wins YouTube copyright battle in French court. (CNet) German and U.S. courts say YouTube is responsible for pirated material, but a French court backs Google.
• Why Social Networks Need Musicians (WSJ)
• Rocker Fort Atlantic Releases New Album on Nintendo Cartridges (Wired)
• How Berklee College became a mecca for modern music (Guardian)
• Concert source Jambase has launched a Facebook app.
• Music content specialist LoveLive makes senior hires (Televisual)
• R.I.P. Doc Watson