Tuesday, January 31, 2006

Rupert Murdoch spends $580M for Myspace.Com

Furthering the important role that blogging plays, Rupert Murdoch recently spent $580M to buy the company that owns Myspace.Com.

Myspace.Com, Xanga.Com, and Facebook.com are some examples of blog sites that create online communities where primarily teenagers to young 20-somethings post pictures, their favorite TV shows, music, etc.

MySpace has 20M visitors/month and is a little "raunchier" according to a recent NY Times columnist David Brooks article "Bowling alone, or Group hug?".

See related article here:
http://www.economist.com/business/displaystory.cfm?story_id=5407672

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