News Corp. is planning to position its MySpace unit as a Web site for accessing entertainment and related information, in a new effort to compete with Facebook Inc., according to the Wall Street Journal.
In an effort to reinvigorate its MySpace business in the face of tough competition from Facebook, News Corp. plans to position its social networking site as a source of entertainment and related information, according to a story in the Wall Street Journal.
The story, written by Julia Angwin, says MySpace will be repositioned as an entertainment portal where people can look for common interests.
MySpace’s plans aren’t set yet, but the company is expected to quietly roll out new features in the next few months. The unit recently cut its U.S. staff by 30% and reduced its overseas staff by up to two-thirds. The cuts leave the company with 1,000 U.S. employees and 150 international ones.
WSJ Online subscribers may read the full story here.