PlayStation Network Accounts Will Merge with Sony Entertainment Network (SEN) on February 7

• New terms for parents of minor, subaccount holders regarding the limitations of chat parental controls. Your reacceptance of the Terms of Service and User Agreement and Privacy Policy affirms your consent to the sharing of your child’s data that may occur if your child utilizes certain communication functionalities on PlayStation devices such as PlayStation 3 and PlayStation Vita systems.
• New terms that explain the location-based services offered through the PlayStation Vita system. For parents of minor, subaccount holders your reacceptance of the Terms of Service and User Agreement and Privacy Policy affirms your consent to your subaccount holder’s user of these services on the PlayStation Vita system.
• A description of our “What’s New” section, which provides topical information about our services and advertisements.
• Information about pre-ordering content.
• The name of your "PlayStation Network account" is changing to a "Sony Entertainment Network account."

Tweaks aside, Sony insists this is merely a rebranding effort resulting in a change in name only. If you own a PSN account and a PlayStation 3 console or a Vita handheld, your username and password will not change, nor is Sony encouraging you to change them. Curiously enough, none of this effects the PlayStation Portable (PSP).

"This transition is based on Sony’s goal to enhance its unique digital entertainment offering. As a series of these activities Sony started last September, PlayStation Network will be aligned with 'Sony Entertainment Network.' This helps us get closer to our goal of establishing a global comprehensive network platform of services across games, movies, music and more, all accessible from one convenient account," Sony said.

You can review the changes in Terms of Service and User Agreement here, and the new Privacy Policy here.