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BUSINESS
February 8, 2007 | Joseph Menn, Times Staff Writer
With MySpace.com, another Rupert Murdoch gamble is starting to pay off. News Corp. on Wednesday said the social networking website that it acquired to great skepticism in 2005 had turned profitable and was bringing in revenue faster than expected. MySpace's sales in the latest quarter tripled from a year earlier, making the site a highlight of its parent's earnings report. News Corp. reported net income of $822 million in its fiscal second quarter, down from $1.
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BUSINESS
December 6, 2006 | From the Associated Press
The popular online hangout MySpace.com said Tuesday that it would develop technologies to help block convicted sex offenders, the News Corp.-owned website's latest attempt to address complaints about sexual predators and other dangers to teens. Santa Monica-based MySpace is partnering with Sentinel Tech Holding Corp. of Miami to build and deploy within 30 days a database that will contain the names and physical descriptions of convicted sex offenders in the U.S.
BUSINESS
November 18, 2006 | Dawn C. Chmielewski, Times Staff Writer
Universal Music Group sued MySpace.com on Friday, alleging that the social networking site that bills itself as a source of "user generated" content instead trades on "user stolen" songs and music videos. The lawsuit, filed in U.S. District Court in Los Angeles, described MySpace as a "vast virtual warehouse" of pirated works from some of the company's best-known artists, including Mariah Carey, Diana Krall and U2.
BUSINESS
November 8, 2006 | From Bloomberg News
Rupert Murdoch's News Corp. will invest 590 million yen ($5 million) with Japanese billionaire Masayoshi Son's Softbank Corp. in a Japanese version of the social networking website MySpace. News Corp., which last year paid $580 million for MySpace, will put up the money in a 50-50 partnership with Tokyo-based Softbank, Japan's largest provider of high-speed Internet access.
ENTERTAINMENT
October 9, 2006 | From the Associated Press
The online hangout MySpace.com will organize 20 concerts featuring bands promoted on its site as part of a campaign to raise awareness and money for humanitarian relief in Sudan. The site, which grew in popularity thanks to emerging bands and their fans, has in recent months taken a more active role in social causes, such as environmental awareness and voter registration.
BUSINESS
October 6, 2006 | Dawn C. Chmielewski, Times Staff Writer
For a guy who walked away from MySpace with $47 million, Brad Greenspan shouldn't have anything to be angry about. But the founder of the Los Angeles company that created the popular social networking site Thursday railed against his former firm and demanded a federal investigation of News Corp.'s 2005 acquisition of MySpace, calling it "one of the largest merger and acquisition scandals in U.S. history." Greenspan, who was ousted from Intermix Media in 2003, alleged that News Corp.
BUSINESS
September 7, 2006 | From Bloomberg News
Facebook, the college friend-finder website that competes with News Corp.'s MySpace, added features that track what users do on the site, prompting protests from users. The new features show changes that members make to their personal site, such as adding pictures, and automatically alert members of user groups about their activities on Facebook, the Palo Alto-based company said. In response, more than 265,000 Facebook users have joined a protest group called Students Against Facebook News Feed.
BUSINESS
August 14, 2006 | Chris Gaither, Times Staff Writer
Signaling its ambition to turn MySpace into an entertainment marketplace, News Corp. today is expected to unveil plans to sell downloadable copies of 20th Century Fox movies and TV shows through the popular social network and other Fox Interactive Media websites. The announcement comes a week after Fox signed a major advertising deal with Google Inc., intensifying News Corp.'s race against Viacom Inc. and other entertainment companies to cultivate younger audiences online.
ENTERTAINMENT
June 25, 2006 | Scott Timberg
SHE'S somebody's ideal hookup: female, 31 and living in Los Angeles. She's interested in meeting "the culturally curious and those who enjoy free things." Her friends include hipster bands Run Run Run and the Silversun Pickups, and her message board is full of smart, sometimes cryptic comments. (One reads: "great Gertrude Stein reading! thanks!") She's not an aspiring actress living in the Fairfax District, though, but rather the denizen of a multistory marble structure in Westwood.
BUSINESS
June 14, 2006 | From Reuters
News Corp. said My- Space.com plans to solicit bids from Microsoft Corp., Google Inc. and Yahoo Inc. to provide its popular youth-oriented network with search-based advertising, Chief Operating Officer Peter Chernin said. News Corp. head Rupert Murdoch has said the firm is seeking to invest in the search business. News Corp. bought MySpace last year for about $580 million.
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