-- Entertainment retailer Trans World has received a commitment from Bank of America and other lenders to provide a $100 million revolving credit facility. This new credit agreement amends the previous agreement from January 2006. (SEC filing)

-- Ning, a social network site that many artists use to create their Web sites, announces it will no longer offer a free version of its service. Free users will have the chance to upgrade to the paid version. At the same time, the company has laid off 40% of its workforce. (Press release)

-- Construction at Raleigh’s $2.6 million downtown amphitheater is set to end May 25 and concerts will begin in early June. Live Nation has committed to 15 to 20 shows a year and has already booked eight (including O.A.R. and Paramore). The amphitheater sits on ground that has been set aside for expansion of the adjacent convention center. Rather than sit unused, the city decided to put it to use by building the venue. (MyNC.com)

-- In an article about deluxe physical packages at The Economist was this insightful statistic about Universal Music Group: “Deluxe CDs accounted for 27% of Universal’s sales from its biggest new releases in 2009—up from 20% in the previous year.” Regular CDs aren’t good for more avid fans who want extra content, the article explains, nor do they make a good gift (the regular CD is “perceived as a rather stingy gift,” says Max Hole, the incoming head of Universal’s international division). (The Economist, via The Daily Swarm)

-- Of all the information found in Google’s Q1 earnings release, one item pertinent to media companies is that 38,000 apps new exists for the Android mobile platform. It was another good quarter for Google as it posted $5.06 billion in revenue and $1.96 billion of net income. (Techcrunch)

-- Chet Flippo on the meaning of this week’s label news out of Nashville: “What does it all mean? These changes at Sony and Lyric Street will inevitably mean that some artists and label staffers will hit the streets, and some will end up at smaller ventures and some won't. For Nashville's labels, it means that absentee corporate control -- exercised by executives in Berlin and Tokyo and New York and Los Angeles and London -- have absolute and total say in anything the Nashville labels do. That has been so for years, but now it's even more obvious that rule by bottom line is total and autocratic.” (CMT.com)

Questions? Comments? Let us know: @billboardbiz