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Doing the Sun Valley Spin, Murdoch Proposes New Direction for Myspace July 12, 2009

Posted by David W. King in Uncategorized.
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Could Murdoch be doing a little Sun Valley spin?

The Wall Street Journal reported on Friday that Rupert Murdoch, CEO of News Corp., said he is looking to reshape MySpace into an “entertainment portal.” This statement, made at the Allen & Company Conference in Sun Valley, Idaho, comes as Facebook continues to overshadow MySpace in almost every relevant metric

The Journal reported that MySpace will enable the site’s users, the number of which is quickly shrinking, to access entertainment and related information. The big question is how much would a facelift, like the one proposed by Murdoch, help the site?

First, MySpace is already heavily geared toward entertainment. News Corp. helped create MySpace Music in a joint venture with the four largest record labels. Los Angeles-based MySpace has long provided users with a means to upload their own video clips, so user-generated video is covered.

Sources in the music, television, and movie sectors said they were unaware of any new deals regarding MySpace.