BREITBART.COM - MySpace May Be Linked With Search Engines

BREITBART.COM - MySpace May Be Linked With Search Engines: "MySpace May Be Linked With Search Engines
Jun 13 9:38 PM US/Eastern
Email this story

CHICAGO

News Corp. could let one of the larger Web search engines, like Google Inc., Yahoo Inc. or Microsoft Corp.'s MSN, take over the search function on popular social networking site MySpace.com, a News Corp. executive said Tuesday.

Speaking at the Deutsche Bank Media & Telecom Conference, Peter Chernin, News Corp.'s chief operating officer, said such a move would be one of the most lucrative ways to monetize MySpace, the popular online destination that News Corp. acquired last year.

Since News Corp. bought MySpace last year for $580 million, interest in the site has been high, with analysts and investors hoping it will drive growth at the company. The site has been wildly popular among younger users and has more than 75 million members. But thus far, News Corp. is still looking for ways to profit from its many users without looking 'uncool.' Chernin has said he is 'extremely bullish' on the company's new media initiatives.

Chernin said Tuesday that News Corp. is 'probably too late' to make a significant mark in the search arena, but plans to find 'some strategic combination' of the user traffic generated by its Internet sites and its vast array of entertainment content to get the most revenue out of its Web-based properties.

MySpace is one of the most visited sites on the Internet, but the site's search function isn't so dominant. In April, MySpace's search function made up 0.6 percent of all U.S. online searches, according to comScore Networks, which specializes in measurement and analysis of consumer behavior and attitudes.

Class A shares of News Corp. fell 34 cents, or 1.8 percent, to close Tuesday at $18.39 on the New York Stock Exchange. The media company is based in New York. "