News Corp. to merge online advertising network with MySpace
25 Aug 2010
Rupert Murdoch's News Corp. will combine its online advertising network, Fox Audience Network and social networking site, MySpace following the plans of Adam Bain, president, Fox Audience Network, to quit and join micro-blogging site Twitter.
Fox Audience Network, incorporated in 2007, sells targeted advertising across various online media platforms for MySpace and other third-party publishers.
By incorporating the two, News Corp hopes to gain more users for the MySpace, which was taken over as the dominant social network in US by Facebook, by negotiating potential partnerships with other web players like Google, Microsoft and Yahoo.
MySpace is also set for a re-launch in a bid to attract more users.
"By aligning the Fox Audience Network platform directly with MySpace, we will be able to utilize its services to further drive MySpace's revenue efforts and to play a key part in the site's planned re launch later this year," said, News Corp.'s chief digital officer, Jon Miller in an official release.
MySpace was acquired by News Corp. in 2005 for $580 million.
Fox Audience Network had inked deals with ad agency conglomerates WPP and Omnicom Group over the last year.