IN SEARCH OF MYPROFITS

摘要

Give Rupert Murdoch his due. When the News Corp. chairman approved a $580 million deal to acquire MySpace in the summer of 2005, he was way ahead of the pack. Today, hundreds of millions of people around the globe have embraced these digital water coolers, using them as a means of self-expression or as a way to keep in touch with friends. But now the pressure is building for MySpace to prove it can be the cash cow that Murdoch and others are betting on. MySpace, still by far the largest social network, has lost some of its mojo lately as competing networks spring up likernMySpace TV unit.rnThe race to wring money out of MySpace's giant audience is all the more urgent because Facebook, the fast - gaining No. 2 network, is expected on Nov. 6 to unveil its own advertising strategy. On Oct. 24, Microsoft said it would invest $240 million in Facebook, reportedly beating out Google and giving the site a staggering $15 billion valuation.