UK pay-TV and broadband telco Virgin Media clocked its first annual profit in 2011, as its TV set top boxes continued to be an engine of video on-demand viewership.

Today brings news of yet another round of capital-intensive cost-cutting for the challenged mobile phone maker Nokia: the company today announced that it would be transferring smartphone assembly from factories in Hungary, Finland and Mexico, and putting the operation in Asia.

Mail Online’s annual revenue growth rate has accelerated to a high of 70 percent following its big push in to the U.S., its publisher DMGT reported in Wednesday’s interim disclosure for its October-to-January earnings.

Magazine and web publisher Future has hit a key milestone in the media industry’s great transition - UK digital revenues made up for print revenue falls between October and December.

Global holiday-quarter books revenue dipped by 3.8 percent at Hachette operator Lagardere Publishing despite booming western e-book sales, the Lagardere group reported, as it warned it would write off almost €1 ($1.3/£0.83) billion against other group activities.

Demand Media (NYSE: DMD) rival Populis is continuing to build up its non-English blog network and publishing business through acquisition, this time expanding out of Europe in to Latin America.

Marketers in China are fast moving advertising spend from offline to internet, one of the country’s largest online operators, Sohu (NSDQ: SOHU), said, as it reported record quarterly revenue to its Nasdaq investors.

It’s not digital advertising in the sense of display ads and search results, but it looks like we are getting a bit more color on what it is that Facebook will do first in the world of mobile marketing, and it could be coming online “within weeks.”

B2B publisher UBM is off-loading its UK magazines for farmers and doctors, as it looks to further exit the direct content publishing business in favour of data, marketing and events.

Much has been made of the mobile risks that Facebook laid out in its S-1 IPO filing earlier this week. Essentially, it’s seeing/pushing massive growth in mobile, but it still hasn’t tried out advertising, its most effective route to revenues, on this platform. That’s not to say it won’t. But…

BT (NYSE: BT) signed up 39,000 customers to its Vision hybrid Freeview/IPTV service between September and December, taking it to 679,000. Now, with its relaunch on YouView still delayed, BT is taking it upon itself to relaunch the service’s platform.

Apartment-letting site Airbnb will get investment, endorsement and distribution from the publisher of Europe’s most-read newspaper.

Two European companies are this week taking venture capital in the games space…

Sony’s new president and CEO has quite a task on his hands. A day after Kazuo Hirai was appointed to replace Howard Stringer, who remains as chair, he announced the company plummeted in to the red by 320 percent.

Facebook has made a $3.1 billion business from a social advertising sector many, even it, concede is experimental and unproven. Now it must find that proof. But experimenting on Wall Street, as well as Madison Avenue, could prove challenging.

»  Facebook’s biggest risks explained (ReadWriteWeb) »  Is Facebook’s IPO the start of something, or the end? (GigaOm) »  Zuckerberg claims “We don’t build services to make money” (Forbes) »  IPO filing says that Zynga accounted for 12% of Facebook’s revenue in 2011 (TNW) »  From founders to decorators, Facebook…

Facebook‘s nearly 200-page S-1 filing appears to have crippled the Securities and Exchange Commission’s Edgar website with the mass of people going there to take a peek at the social network’s numbers. That traffic may well be matched by the weight of numbers in the filing itself. Here’s a look…

It took the whole day, but Facebook finally—as many expected—filed its S-1 with the Securities Exchange Commission for its long-awaited IPO. While guesstimates for how much Facebook would try to raise ranged from $5 billion to $10 billion, in the end, it looks like it is the lower of that…

Some fallout from the various asset offloads we have seen from Nokia (NYSE: NOK) in the last year: Synchronica, which bought Nokia’s messaging business for $25 million in June 2011, has itself become a takeover target—apparently because it will not be able to make payments on money still owed to…