Jul 10, 2009 7:00 pm US/Pacific
Report: MySpace To Push Deeper Into Entertainment
NEW YORK (CNET) ―
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."
The Journal reported that MySpace will enable the site's users, the number of which is quickly shrinking, to access entertainment and related information. Murdoch, however, didn't offer the paper any details about what this new entertainment focus would include.
The statements, made at the Allen & Company Conference in Sun Valley, Idaho, comes as Facebook continues to overshadow MySpace in almost every relevant metric. 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. The site is not quite a year old and has struggled to find its footing. Nonetheless, MySpace is well stocked with music.
Los Angeles-based MySpace has long provided users with a means to upload their own video clips, so user-generated video is covered. When it comes to offering movies and TV shows, MySpace could conceivably do more with Hulu, the successful video portal that News Corp. started with NBC Universal.
It's hard to conceive that something like this would move the needle much. Sources in the music, television, and movie sectors said they were unaware of any new deals regarding MySpace.
Could Murdoch be doing a little Sun Valley spin?
(© 2009 CBS Interactive Inc. All rights reserved.)
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