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Viacom vs. News Corp. on Social Networking

Posted by Zonk on from the feel-the-neopet-love dept.

dolphinlover writes "The purchase of MySpace.com by Robert Murdoch's News Corporation last year for $580 million has caught the attention of another media conglomerate, Viacom Inc., whose CEO, Tom Freston, has now announced his intentions to purchase or partner with a social networking site this year in order to enhance the company's image with youth. Whether it will also be successful monetarily has yet to be seen, as MySpace.com only had $47 million in revenue in 2005 based on advertising. This news follows Viacom's acquisition of Neopets.com in 2005. For those companies already heavily involved in television and movies, expanding their presence to the Internet provides a new opportunity to gain a foothold over the competition."

2 of 65 comments (clear)

  1. People don't want their kids using this by Anonymous Coward · · Score: -1, Troll
    The Connecticut Attorney General is investigating MySpace after reports of six or seven sex assaults were linked to the site.

    I wouldn't want my kids using this shit.

  2. I thank yoxu for your time by Anonymous Coward · · Score: -1, Troll

    ME! It's official that he documents prima donnas, and for the state of took precedence about half of the