No, My Space

23 June 2009 By Rob Cox Follow @rob1cox

As its ad deal with Google winds up, the News Corp unit increasingly looks like an alsoran social network. More value may lie with its musical roots, giving Viacom a chance to fulfill its ambition of marrying MTV with MySpace.

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MySpace is cutting up to twothirds of its overseas staff, according to a letter from chief executive Owen Van Natta to employees, the TechCrunch blog reported on June 23.

In the letter, Van Natta – a former Facebook executive – said MySpace grew its European operations too rapidly and will now focus on "regional business partnerships and integration in a smaller number of territories, while retaining a robust international presence."

Earlier this month, MySpace embarked on plans to cut 30% of US staff.

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