Is MySpace Murdoch's Top Investment?

Maybe, says Google CEO, as site rolls out initiatives in bid to remain in front
By Laila Weir,  Newser User
Posted Jan 21, 2008 3:21 PM CST
MySpace adds Skype services.   ((c) b_d_solis)
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(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.