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Posts Tagged ‘MySpace’

News Corp. Proposes Myspace Deal with

Bloomberg is reporting that News Corporation has reached out to, a music video website, to gauge interest in a possible deal for According to the article, News Corp. is hoping to hand over the site to Vevo, in exchange for a stake in a new venture.

The deal makes sense because Vevo is actually part owned by record companies, and the only thing that Myspace ever got right was music (okay, posting Bulletins was good too – it was a great way to say absolutely nothing to a bunch of your friends all at once).

Of course the talks are still in the early stages, so they could fall apart. But at least a company appears to be willing to give Myspace a chance. That isn’t usually the case.

Advertisers are Avoiding Myspace

The demise of once powerful Myspace continues. The Wall Street Journal reports that advertisers are staying away from the site because of uncertainty revolving around its future and the lack of visitors.

In February, traffic dropped 44 percent, marking Myspace’s worst month since it began to fail in 2009. All this upheaval is making advertisers skittish:

With so much up in the air, several marketing executives say they are hesitant to commit ad dollars to Myspace, particularly for larger or extended campaigns. ‘We’re not seeing our audiences on Myspace, and not seeing them play the big influencer role they once did,’ says Shiv Singh, head of digital for PepsiCo Inc.’s PepsiCo Americas Beverages, which hasn’t run an ad campaign with Myspace since 2009. ‘We don’t know who will own them or what they will look like in June or July.’

News Corp has been looking for potential deals involving the money pit, but shockingly enough, no one is willing to put any cash into the site.

If you haven’t logged onto your Myspace account in years, you better do it quick before the site disappears forever. And while you’re there, why not accept a few friend requests from Russian spam bots, just for old time’s sake.

News Corp Might Keep Part of Myspace

Despite Myspace continuing its freefall, The Wall Street Journal is reporting that News Corporation is seeking a deal where they retain a part ownership of the website.

The company has hired Allan & Co. to advise them on possible deals, but so far, it’s not going well. So perhaps News Corp is willing to keep part of Myspace as an incentive to investors, who would otherwise be unwilling to take on such a money pit.

There really can’t be that many people or companies out there looking to invest in a property that lost $156 million in last year’s 4Q, even if it let’s you put blingees on your profile.

Nearly Half of MySpace Staff Given the Axe

MySpace announced today the layoffs of 47% of the company’s staff, about 500 employees. The cuts come just 3 months after the News Corp-owned social network revamped the site. In a release, CEO Mike Jones made sure to emphasize that the alterations to MySpace were not the cause of the layoffs:

These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product. The new organizational structure will enable us to move more nimbly, develop products more quickly, and attain more flexibility on the financial side … While it’s still early days, the new Myspace is trending positively and the good news is we have already seen an uptick in returning and new users.

MySpace is based out of Beverly Hills, CA. It has not been announced how many local employees will be affected by the layoffs.

News Corp’s Myspace Cuts 500 Staffers

The uncertainty surrounding Myspace has come to a climax: the News Corp owned website just announced that it is laying off almost half of its employees. Mike Jones, a Chief Executive at the company, issued a statement saying that the layoffs were part of significant changes at the company:

Today’s tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability.   These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product.  The new organizational structure will enable us to move more nimbly, develop products more quickly, and attain more flexibility on the financial side.

Right. Companies that are doing great always drop half of their workforce. Happens all the time! We’re waiting to hear about Procter & Gamble cutting its staff because Pantene Pro-V is simply too good.

The complete statement from Jones is after the jump.

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Remembering Don Hewitt|YouTube Partners With Time Warner|MySpace Confirms iLike Buy|Papers Form Sports Content Sharing Network|BusinessWeek Buy Update

TVNewser: Broadcasters remember Don Hewitt and this Sunday “60 Minutes” will have a one-hour tribute to the show’s creator. Wonder what Katie Couric‘s hair will look like in this one.

BayNewser: YouTube has partnered with Time Warner, meaning that clips from CNN, the Cartoon Network and TV shows like “Gossip Girl” and “The Ellen DeGeneres Show” will soon be available on YouTube.

WebNewser: MySpace has confirmed reports of its acquisition of social music service iLike.

Editor & Publisher: Nearly 50 newspapers have joined a national sports content sharing network, which is set to start in September.

New York Post: Keith Kelly has some dish on the BusinessWeek sale. It looks like bids from the various parties interested in the business mag won’t come until next month, and bidders are skeptical about the price that McGraw-Hill is seeking for the struggling magazine.

MySpace Starters Get Awards — They’re Just Kids

myspacephoto1.jpgmyspacephoto2.jpgMySpace CEO and co-founder Chris DeWolfe and president and co-founder Tom Anderson are not only phenomenally rich after their lucrative sale of the kid-friendly site to News Corp. three years ago, now they’re scooping up awards starting with the Producers Guild of America Vanguard prize.

They join YouTube Founders Chad Hurley and Steve Chen as 20-something recipients of the accolade. On the slightly more elderly side of the coin, director/producer George Lucas and director James Cameron also took the Vanguard.

The Vanguard, which recognizes achievements in new media and technology, will be presented at the Producers Guild Awards ceremonies Jan. 24 at the Hollywood Palladium.

“Tom and Chris created a lifestyle portal that redefines the Internet for people around the world,” said awards co-chairs David T. Friendly and Laurence Mark. “Their vision resulted in an environment where society interacts at a whole new level.”

DeWolfe and Anderson created MySpace in 2003 and sold it two years later to News Corp. for $770 million.

Kid-friendly (?) News Corp. chairman Rupert Murdoch is having the last laugh. The company is now worth well over $1 billion and climbing.

Michael Wolff on MySpace and Why Rupert Murdoch Loves ‘Cretins’

imarupeges.jpgSo Michael Wolff‘s long-awaited bio of Rupert Murdoch, The Man Who Owns The News, hit shelves yesterday. Portfolio has a round-up reactions (the Times did not love). Over at BusinessWeek Jon Fine says that “Wolff’s Murdoch mumbles, dissembles, has cultural sensibilities predating Elvis Presley if not Rudy Vallee.” Fine separately posted some of his conversation with Wolff, in which they argue about the viability of News Corp-owned MySpace. Apparently they are scared of Facebook! (Also, who knew sex chat rooms were the secret of AOL’s success!)

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MySpace and PayPal: Give Money To The Cheerleader, Save The World (Or At Least The Whales)

m_14e1acb9f34fa6e359c4943f033d7c06.jpg MySpace and PayPal have teamed up to create “donation widgets” that will allow the same people who hit your page up for drunken pictures of your ‘neathage to contribute to Breast Cancer Research funds. Or something like that.

To inspire the masses, MySpace and PayPal have enlisted a coterie of young things: Hayden Panettiere, The Jonas Brothers, Miley Cyrus, Hilary Duff and Vanessa Hudgens.

All these stars have installed the widgets on their pages — and are helping to promote a contest that includes weekly prizes and $20,000 in cash.

So now you don’t have to feel completely dirty about perusing the pages of underage stars.

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Why Does MySpace Suck? Two Local Authors Have the Answer

414wCL+cXQL._SL500_AA240_.jpgIn their new book, Impotence in the Boardroom: MySpace Caught an STD, marketing experts Yvette Bowlin and Sonni Carr explore what they call “strategically transmitted diseases” (Or STDs, natch) to explain why some brands just, you know, suck. From the press release:

Bowlin and Carr take readers inside the doors of MySpace and recount the events of a 2006 meeting between the authors and MySpace executives. The two create a case study to show how MySpace has become a one-hit wonder reaching ‘has-been’ status as quickly as stardom–all because it chose to ignore the fate of feature fatigue. Even this behemoth of a company that became the topic of every lunch conversation and found its way into almost every advertising budget, isn’t indestructible. Subject to the fickle audience to which it catered, needed a salvaging opportunity–fast! The authors tell the company’s promising beginnings to its pending doom and how MySpace executives rejected an exciting, intriguing opportunity that would have repositioned them as the leader in social impacting, and instead, settled for ‘safe and sorry.’ Bowlin and Carr, the Opportunity Analysts, also show how companies such as Dow, Citigroup, Cisco, Keen Footwear, MSN and Coca-Cola aren’t making the same mistake and how they stay relevant, attractive and desirable in today’s hormonally-charged marketplace.

Impotence? STDs? Hormonally-charged? We’re no marketing experts, but isn’t it bad practice to associate your message with lumps, bumps, pus and zits?