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Is MySpace Murdoch's Top Investment?

Posted Jan 21, 08 3:21 PM CST in Business Technology 

(Newser) – Two years after Rupert Murdoch’s News Corp. bought MySpace, and shortly after its two founders signed up for another couple of fabulously well-paid years at the helm, the site is expanding and evolving. Despite challenges (read: Facebook), MySpace represents an impressive return for Murdoch. “He may find that this is the single best investment he has ever made,” Google’s CEO told the New York Times.

To attract advertisers who may distrust MySpace’s freeform configuration and to maintain its position as social networking leader, the site is becoming more of an Internet portal, going beyond its origins as a platform for user-created content and including original content. Most recently, the site unveiled a celebrity section that includes entertainment news and an index of stars’ profiles.
Source: New York Times

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MySpace adds Skype services.   ((c) b_d_solis)
News Corp. Chairman and CEO Rupert Murdoch, right, and MySpace CEO and Co-founder Chris DeWolfe listen to questions during a talk at Web 2.0 conference in San Francisco in this Oct. 17, 2007 file photo....   (Associated Press)
Tom Anderson, left, and Chris DeWolfe, founders of the social networking Website "MySpace," appear on the NBC "Today" television program in New York, Wednesday, Sept. 26, 2007. (AP Photo/Richard Drew)   (Associated Press)
Chairman and CEO of News Corporation, Rupert Murdoch, right, and Chris DeWolfe, left, Chief Executive Officer and Co-founder, MySpace answers questions during a talk at Web 2.0 conference in San Francisco,...   (Associated Press)
A MySpace page.   (KRT Photos)
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