The Wall Street Journal has reported that MySpace has been unloaded to an internet advertising company for a mindboggling USD35 million in cash plus some unspecified number of shares (WSJ speculates it's less than 5%)..
As its social networking functions were taken over by Facebook, twitter and Linked-In, and dozens of clones of each variant, MySpace refocussed itself as an adjunct to the entertainments side of the Murdoch empire. This is, after all, a company which is one of a handful that dominates the global entertainment industry.I'm quietly rooting for MySpace. Although I don't really use my profile there, I like the idea that there is no big, obvious winner in any race. It's good to have competition. I like the idea that there could be one primary method to streamline our social identities for efficiency's sake, but there's always the "all your eggs in one basket" issue of there being only one for-profit company that does the streamlining. And competition eggs on (Get it, "eggs"?) progress. Not that I really see where the new MySpace is competing. The article says YouTube but I don't see much connection except tangentially. But whatever it is, it's still crawling along. Go, MySpace! You can do it!