Home › DMW Daily › July 13, 2009

WSJ: MySpace to Reposition Itself as Entertainment Portal

Authored by Mark Hefflinger on July 13, 2009 - 7:16am.
Sun Valley, Idaho - News Corp. (NYSE: NWS) CEO Rupert Murdoch intends to reposition MySpace, the online social network his company purchased for $580 million in 2005, "as an entertainment portal," where "people are looking for common interests," The Wall Street Journal reported. Murdoch made the comments last week at the Sun Valley conference.

The coming transition at MySpace follows a restructuring that included the naming of Owen Van Natta as CEO, and layoffs that hit 30% of its U.S. staff and up to two-thirds of international staff.

In May, the company saw its Web traffic fall below that of rival Facebook for the first time, according to comScore data.

Sources familiar with MySpace's new strategy told The Journal that the site will begin to emphasize its music and video sectors in coming months.

 

Related Links:
http://online.wsj.com/article/SB124725423686924587.html

Published in DMW Daily, July 13, 2009
tags: Video | Social Networking | Music | MySpace | Facebook | News Corp. | Rupert Murdoch | Owen Van Natta |



Comments

Post new comment

The content of this field is kept private and will not be shown publicly.