My Space

Who owns the site?

MySpace is a social networking site which is owned by Fox Interactive Media (who in turn are owned by News Corp). It's headquarters are in Beverly Hills, California, where it shares an office building with its owners. Myspace is an interactive site, allowing user to have a network of friends, personal profiles, blogs, groups, and share photos, music and videos.

Do they also own any traditional media businesses?

Fox Interactive Media oversees the Internet business operations for News Corp. Apart from MySpace, they also own IGN Entertainment and Photobucket. They also own the entire Fox range (including Fox NY and Fox Sport).

What other internet sites do they own?

F.I.M own many different internet sites including:
NewRoo.com
Scout.com
Photobucket.com
MyFoxny.com
AskMen.com
Fox.com
FoxSport.com
MyNetworktv.com
Strategicdatacorp.com
DirectDrive.com

What is its revenue?

According to a 2007 report, MySpace's revenue was $1 billion.

What is it's overall worth?

Overall, MySpace was (in 2005) worth $580 million.

Research five key facts about the institution.

1. MySpace was overtaken internationally by main competitor Facebook in April 2008.

2. MySpace employs 1,000 employees, after laying off 30% of its workforce in June 2009.

3. MySpace became the most popular social networking site in the US in June of 2006.

4. The 100 millionth account was created on August 9, 2006 in the Netherlands.

5. It's owner, Fox Interactive Media, is owned by News Corp.

Find quotes (with references) about the institution.

Tom Anderson, the president of MySpace said that Myspace was "a place for friends".
In the past, other social networking sites like MySpace have locked users into their own site and jealously guarded each member's content. MySpace's boss Chris DeWolfe said that these "walls around the garden are coming down."
Travis Katz, the managing director of MySpace said that "We may be the second largest provider of video clips on the internet but we are a community site first and a video site second."

Linked Wikipedia articles:

http://mashable.com/2006/07/11/myspace-americas-number-one/

According to the above article, Myspace is now the most popular site in the United States of America.Hitwise states that MySpace overtook Google's popular search engine, and Yahoo's mail service as America's most visited website.The article also informs the reader that MySpace now has a "winning market share" (80%) from other social networking sites such as Facebook (which comes in with 7.6% the social network travel).According to this article, MySpace "was an absolute bargain when NewsCorp brought it for $580 million" and that Bebo's rejection of $552 million offer now seems completely reasonable.

http://www.time.com/time/business/article/0,8599,1905010,00.html

This website article stated that the cuts in workforce made by MySpace brought the total number of their staff to 1,000.The site compared this to Facebook who, as of May, had about 850 employees worldwide, the majority of whom were in the US.According to the article, MySpace's user base had stagnated at about 125 million worldwide users, while Facebook's usage has doubled to more than 200million in less than a year."I'm a big believer in personalization," Van Natta said then at a technology conference in Carlsbad, Calif. "Our job is to make MySpace really, really great for everybody, and that means that the experience has to be different for everybody."The article also informs the reader that News Corp. has said MySpace is unusual for a social-networking site in that it is profitable, but noted that ad revenue in the quarter through March fell 16 percent and costs rose due to last fall's rollout of MySpace Music, a song-streaming joint venture with major recording companies.