MySpace is being combined with FOX Audience Network (FAN), both owned by Rupert Murdoch’s News Corp. FAN president Adam Bain is leaving to join Twitter, Inc.
MySpace, bought out by News Corp. in 2005 for $580 million, is the social networking website that got left in the dust by Facebook. FAN is an online advertising network created in 2007 to give News Corp. the means to provide advertisers with an easier process to purchase targeted ads across several websites.
News Corp. plans to re-launch MySpace, The Wall Street Journal reports without revealing any details. (Note: The Wall Street Journal’s publisher Dow Jones & Co. is also owned by News Corp.)
News Corp.’s combining FAN with MySpace in an effort to give MySpace more appeal in negotiations with possible partnerships with Google, Inc., Microsoft Corp. and Yahoo, Inc. FAN reaches 150 million Web users, which is over twice the number of people using MySpace.