By Ian Sherr

SAN FRANCISCO (Reuters) – Price cuts helped Sony Corp’s Playstation 3 become the top-selling video game console for the first time since its release, as U.S. sales of video game gear and software in the United States rose a modest 1 percent in September from a year ago, a research group said on Monday.

The PlayStation 3 dethroned long-running champ Nintendo and its Wii console to take the top spot, according to NPD. Microsoft’s Xbox 360 came in third.

“If they didn’t have the price cut, it wouldn’t have happened,” said Wedbush Morgan analyst Edward Woo, noting the PS3′s $200 in price cuts over the past two years.

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By Ian Sherr CHICAGO (Reuters) – The United States Olympic Committee will launch a cable television network devoted to Olympic and Paralympic Games next year, with Comcast Corp agreeing to carry the channel in its cable lineup. (more…)