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Edition: U.S. Article Comments (1) Video Email Print Reprints Read Bin Laden blames French policy for abductions -TV 27 Oct 2010 Apple delays white iPhone until next spring 26 Oct 2010 Special Report: Sleepy in Seattle - Microsoft learns to mature 27 Oct 2010 Fed looks set for new round of monetary easing 27 Oct 2010 Special report: Faked in China: Inside the pirates' web 26 Oct 2010 Discussed 89 Republicans poised to win House and gain in Senate 65 Special Report: The haves, the have-nots and the dreamless dead 56 Special report: Conservative donors let Christine O’Donnell sink Watched Mexico's 20-yr old police chief Thu, Oct 21 2010 Russian spy poses for Maxim Tue, Oct 19 2010 Bejeweled bra exposed in NY Thu, Oct 21 2010 MySpace launching new version of website Tweet This Share on LinkedIn Share on Facebook By Alexei Oreskovic SAN FRANCISCO (Reuters) - MySpace launched a new version of its website centered around music and entertainment, as the social networking company attempts to regain its former appeal in a market it helped create. MySpace Chief... Related News Yahoo taps ex-News Corp online boss for Americas business Wed, Oct 27 2010 Web startup Bln.kr helps artists, fans interact Fri, Oct 22 2010 UPDATE 4-Google in talks to unblock access to TV websites Thu, Oct 21 2010 TIMELINE-Key moments in Yahoo's business Tue, Oct 19 2010 Analysis: Yahoo buyout can't solve its midlife crisis Fri, Oct 15 2010 Analysis & Opinion Social gaming — what the real players say First Direct CEO Matt Colebrook answers your questions Related Topics Technology » Media » Earnings » Stocks Related Video MySpace tries a makeover Wed, Oct 27 2010 By Alexei Oreskovic SAN FRANCISCO | Wed Oct 27, 2010 8:05pm EDT SAN FRANCISCO (Reuters) - MySpace launched a new version of its website centered around music and entertainment, as the social networking company attempts to regain its former appeal in a market it helped create. MySpace Chief Executive Mike Jones said that News Corp-owned MySpace is no longer seeking to compete head-on with social networking company Facebook, and is recasting itself as a complimentary service that he hopes the 35-year-old-and-under crowd will flock to stay abreast of the hottest music and videos. With traffic to MySpace declining and the company rocked by succession of management changes and layoffs during the past two years, the re-launch of the website represents a critical step in efforts to rejuvenate an asset once considered central to News Corp's online business. "Most investors have written off MySpace now," said Richard Greenfield, an analyst at BTIG said on Tuesday. Whether MySpace can rebuild its buzz in the highly competitive and fast-changing Web market is an open question, he said. News Corp bought MySpace in 2005 for $580 million, at a time when the social networking service was at the height of its popularity. But MySpace, which says it has between 125 million and 130 million active monthly users, has been eclipsed by Facebook, which has more than 500 million users. News Corp does not disclose financial information about MySpace. There have been media reports that News Corp is interested in selling MySpace, though executives at News Corp have repeatedly maintained that that is not the case. MySpace's new incarnation leans heavily on the company's strong heritage in music -- the company already has partnerships with the four major record labels -- and seeks to supplement it with content about movies, television and video games. Visitors to the site can subscribe to news feeds about favorite bands and actors, as well as follow other MySpace users that the service recommends as authorities about particular types of music or other topics. MySpace also has changed the look of its site: Users will still be able to customize their personal pages, but to a lesser extent. Personal pages will have a consistent placement of on-screen navigation buttons, for example. Critics said the old site was difficult to navigate because of the inconsistent appearance of the members' pages. CEO Jones told Reuters on Monday this has hurt "user engagement." A beta, or test version of the new site will be available to some users on Wednesday, with the site due to be available to all users by the end of November. YOUNG GENERATION MySpace began the redesign of the site eight months ago, at a time when Jones and Jason Hirschhorn had taken over as co-Presidents, following the departure of Chief Executive Owen Van Natta. In June, Hirschhorn left the company to "pursue other opportunities," according to a MySpace spokesperson. A 2006 search advertising deal with Google Inc that guarantees MySpace $300 million a year in revenue expired in August, and was extended for one month, according to a person familiar with the talks. A MySpace spokesperson said on Tuesday that the company had no update to provide on the deal. While social networking services like Twitter and Facebook are growing bigger every month, MySpace has seen its number of worldwide unique visitors decline every month since March, according to web analytics firm comScore. MySpace said it expects the new version of the site to boost the total number of users that visit the site and the time they spend on the site. 1 2 Next Technology Media Earnings Comments See All Comments (1) | Post Comment Oct 27, 2010 8:18pm EDT If someone would tell MySpace to secure their site and quit with the viruses they might still have users. agirlyourknow Report As Abusive See All Comments (1) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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