(1) In a dictionary we find impressionistic characterizations of various semantic meanings of words and phrases - meanings that may be tied to very different contexts. If you just pick and choose arbitrary characterizations it's pretty easy to find the kind of loops that you pointed out. Those are really not relevant, since that's not the way a dictionary should be/is intended to be used. A dictionary is not intended as a comprehensive theory of all words in a language.
(2) It's not possible to define every word in terms of other words. Or rather, it is possible, in principle, but it's trivial to see that this would lead to circular chains - like the one you found.
(3.1) It is possible to define information without using a circular chain of definitions. The simplest way, is just stop after the first or second definition. Is that cheating? No. What I'm getting at is: What matters is whether the definition makes sense to you, whether it is a useful definition for whatever you want to do with that term. -- This is not to deny that if you still need clarifications after two steps, and someone would propose the third step, you're perfectly right in saying: "Sorry, you just made a circular definition, I'm still not in the clear about what you meant with your original term."
Ultimately, what matters most, perhaps, is how powerful a definition is (in how many contexts, for how many people, it is useful and brings things together).
(3.2) Claude Shannon gave a powerful definition of information, or rather of what it means to be informative or carry information, without circularity. His definition of x is informative (to somebody, in some context) boils down to x is surprising (to that person, in that context). Something is more informative in sofar as it is more surprising (less probable).