Wednesday News

By SuperSpy 

– Viacom’s MTV Networks unit announced on Tuesday that it has created Digital Fusion, a new-media advertising division. READ MORE HERE

– Penthouse Media Group is investing $500 million in a group of social networking sites. READ MORE HERE

– The Brits are so bullish on social networking sites. One in four adults has got a profile. READ MORE HERE

– Taiwan’s internet advertising revenue will amount to TWD 5.9 million in 2008, up 20 percent from 2007. READ MORE HERE

– Through the first nine months of the year, advertising inched up only 0.2 percent to $108.2 billion, according to data released Tuesday by TNS Media Intelligence, which tracks advertising expenditures across 19 media segments. READ MORE HERE

– Wendy’s CMO resigns. READ MORE HERE

– Best Buy is in the midst of a PR nightmare involving the blogosphere (natch, copyright infringement and the “wrong guy.” READ MORE HERE

Paris Hilton’s got a new ad out for something or other. Yawn. READ MORE HERE