MySpace.com, a website that's the flavor of the moment for teenagers and young hipsters, has attracted a new kind of fan: a 74-year-old billionaire.
Rupert Murdoch's News Corp. agreed Monday to acquire Los Angeles-based Intermix Media Inc., the parent company of MySpace, for $580 million in cash. The deal continues the rush of old-media giants snapping up fast-growing Internet ventures in the pursuit of the advertising dollars flowing onto the Web.
With the acquisition, expected to close in the fourth quarter, News Corp. expects to triple its Web traffic, vaulting it into the ranks of the Internet's five most visited sites from its current place in the 40s, said company President Peter Chernin.
MySpace, which lets its users watch videos and listen to music on their computers, also would give News Corp. a new young audience for clips from its Fox news, sports and entertainment programs.
"We thought there was a real opportunity to jump-start our entertainment efforts on those demographics," Chernin said in an interview.
News Corp. is the latest major media company to bolster its Web presence, encouraged by the $9.6 billion spent on Web advertising last year.
Viacom Inc.'s MTV Networks last month agreed to pay $160 million for Neopets.com, a website that lets children create and care for virtual pets. Pursuing older Web surfers, E.W. Scripps Co., Dow Jones & Co. and New York Times Co. have all bought online companies in recent months, seeking to cash in on ad dollars flowing to the Web as their own growth slows.
"There's a lot of pressure on traditional media," said John Tinker, an analyst with ThinkEquity Partners.
But the deal comes with risks. Intermix has faced criticism for installing spyware on consumers' computers. The company says it agreed to pay New York $7.5 million to settle a lawsuit over the practice and has stopped placing the malevolent programs on PCs.
The centerpiece of the deal, MySpace, also carries its own baggage. School officials have warned parents that children can easily find explicit sexual information on MySpace, in both text ads and postings by other members.
Chernin said News Corp. was sensitive to such concerns and would be vigilant in policing MySpace.
But the anything-goes edginess that made the site so cool to loyalists could prove difficult for an established media company - even the one behind such reality shows as "Married by America" and "Who's Your Daddy?" - to tolerate.
"If they want to sustain the buzz of something like MySpace.com, they're going to have to be in it for the advertising revenue purely, not make it more of a corporate-feeling experience," said Patrick Mahoney, a senior analyst with Yankee Group. "If they do, they risk the problem of discontent."
MySpace also has a limited track record. It is growing by leaps and bounds - its 18 million visitors in June marked a 15-fold increase over the same month last year - but analysts noted that young consumers were fickle. Just as the "it" restaurant in Los Angeles can change in a moment, so can the tastes of young Web surfers.
Broadsystem
Classic FM
ign.com Intermix MySpace.com
National Rugby League
Festival Records
Mushroom Records
NDS
News Interactive
News Optimus
News Outdoor
Nursery World
Radio Veronica
Scou.com
Sky Radio Denmark
Sky Radio Germany
Sky Radio Netherlands
Filmler
Rupert Murdoch's News Corporation Owns:
20th Century Fox
20th Century Fox Espanol
20th Century Fox Home Entertainment
20th Century Fox International
20th Century Fox Television
Blue Sky Studios
Fox Searchlight Pictures
Fox Studios Australia
Fox Studios Baja
Fox Studios LA
Fox Television Studios
Televizyon
Rupert Murdoch's News Corporation owns:
Fox Television Studios
Fox Soccer Channel
20th Century Fox
Fox College Sports
National Advertising Partners
FSN
FSN Florida
FSN New England
FSN Ohio
SPEED Channel
Fox Movie Channel
William Morrow
Sky Italia
Fox News Channel
FOXTEL
FUEL
KTBC
WBRC
WGHP
KSTU
WHBQ
WITI
WDAF
KTVI
KDVR
WTVT
WJW
KTXH
WOGX
KRIV
WAGA
KSAZ
WOFL
WRBW
WUTB
KUTP
WDCA
KDFI
WTTG
WJBK
KDFW
WFXT
WTXF
KMSP
WFLD
WFTC
WPWR
KTTV
KCOP
WNYW
WWOR
Sky Ventures
Nick Jr
The National Geographic Channel
National Geographic Channel
The History Channel
Sky News
Paramount Comedy Channel
Nickelodeon UK
Manchester United TV
Granada SPlus
Planet Football
SkyBet
Sky Sports
News Digital Systems
Sky One
National Rugby League of Australia
Sky Italia
Foxtel
Zondervan
Star TV
Channel V
Fox Sports Australia
Phoenix Satellite TV
Sky Brasil
DirecTV
TV Guide
Gemstar-TV Guide
BSkyB
FX
Fox Interactive
Speed Channel
The Speed Channel
Fox Sports Net
Fox Entertainment Group
Fox Sports
Fox Searchlight
Fox Home Entertainment
National Geographic TV
Fox News Network
FOXTEL
STAR
BSkyB
Kitaplar
Rupert Murdoch's News Corporation also owns:
HarperCollins Australia
HarperCollins Canada
HarperCollins UK
Zondervan
Trophy
Katherine Tegen Books
HarperTempest
HarperCollins Children's Books
HarperFestival
Laura Geringer Books
Joanna Cotler Books
Greenwillow Books
William Morrow Cookbooks
SmartSource
The Weekly Standard
InsideOut
Weekly Times
The Sunday Telegraph
The Mercury
The Australian
The Courier-Mail
The Advertiser
Sunday Times
Sunday Tasmanian
Sunday Territorian
Sunday Mail
Sunday Herald Sun
Post-Courier
Newstext
NT News
Newspix
Newsphotos
Gold Coast Bulletin
Herald Sun
Fiji Times
Daily Telegraph
HarperMorrow Publishers
HarperMorrow
Amistad
Caedmon
Access
Eos
Ecco
Fourth Estate
HarperAudio
HarperCollins
HarperBusiness
Harper Design International
HarperEntertainment
HarperLargePrint
HarperResource
HarperSanFrancisco
HarperTorch
Perennial
PerfectBound
Rayo
Quill
ReganBooks
Nursery World
News Outdoor
NDS
The Times
Sunday Times
New York Post
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Rupert Murdoch's News Corporation is truly a global media empire. The company, which is one of the world's largest media conglomerates, publishes scores of newspapers (including The Times of London) and books (through units such as HarperCollins). The company's Fox Entertainment Group subsidiary has significant entertainment holdings, including FOX Broadcasting (TV network with 200 US affiliates) in the US, Twentieth Century Fox, and a 34% stake in DIRECTV parent The DIRECTV Group. It also owns 35 US TV stations and cable and satellite operations in Asia, Australia, Europe, and Latin America. Almost 70% of News Corp.'s sales come from its US businesses. Murdoch's family controls about 30% of the company.
Based on several nationwide surveys it conducted with California-based Knowledge Networks since June, as well as the results of other polls, PIPA found that 48 percent of the public believe US troops found evidence of close pre-war links between Iraq and the al-Qaeda terrorist group; 22 percent thought troops found weapons of mass destruction (WMD) in Iraq; and 25 percent believed that world public opinion favored Washington's going to war with Iraq. All three are misperceptions.
The report, "Misperceptions, the Media and the Iraq War," also found that the more misperceptions held by the respondent, the more likely it was that s/he both supported the war and depended on commercial television for news about it.
Viewers most likely to watch the Rupert Murdoch-owned Fox News channel, in particular, were the most likely to have perceptions about the war that are wrong.
About this page: I have been very active in Domestic Violence causes all of my adult life. I noticed a need in the world pertaining to Same Sex Domestic Violence. It happens more than people know. Unfortunately there are a number of gay people who barely consider themselves worthy or valued as a gay person much less a Domestic Violence Victim. There are also very limited resources, statistics, or information, for Same Sex Domestic Violence. Hopefully through empowerment and education we can change some of this. :D
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It's now been 5 years of lies and atrocities in Iraq. If we wait for the next president, many more soldiers and civilians will be needlessly killed or maimed in the meantime. Please protest to end the occupation NOW, and ask others to do likewise. If someone you know is still undecided, please ask them to watch veterans testify in the WINTER SOLDIER hearings, MARCH 13-16. Go to ivaw dot org to learn more about the hearings. It's not too late -- we can still learn peace. Love, Eric
