Big gains by social rivals mean new direction for MySpace

11/5/2009 | Los Angeles Times (tiered subscription model)

News Corp., in an acknowledgment that Facebook and Twitter had surpassed MySpace, on Wednesday outlined its plan to make entertainment -- specifically music, video and games -- the focus of the social-media site. The unit for MySpace and News Corp.'s other online businesses in the most recent quarter lost $128 million, compared with a $101 million loss in 2008.

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