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ATOM BACK IN BUSINESS

MTV Networks on Thursday officially launched comedy destination Atom.com, a rebranding of its AtomFilms property. Atom.com will launch with four original series, including "Border Patrol," which counts Ivan Reitman among its producers and already is in development at Comedy Central. Other series include the animated "Steven & Stephen" from Tim Heidecker & Eric Wareheim, Waverly Films' "Stickman Exodus" and "Benny, Escaped Convict" from "Scrubs" writer Ryan Levin.

NAPSTER PROXY

Three shareholders of Napster are seeking election to the board, criticizing management for not doing enough to effectively compete with Apple's iTunes. Perry Rod, Thomas Sailors and Kavan Singh are preparing an independent proxy after their May 21 application to Napster's board for nomination was rejected June 13, according to a regulatory filing Thursday with the U.S. SEC.

NEWS CORP. TUMBLES

Shares of News Corp. fell 3.4% to a 52-week low of $16.18 on Thursday amid a broad sell-off on Wall Street. Thursday's action left News Corp. with a market capitalization of $41.7 billion, behind Sony ($45.8 billion), Time Warner ($52.2 billion) and Disney ($60.1 billion).
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