This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MySpace to Launch Revamped Web Site

Stocks in this article: NWSA

MySpace will on Wednesday launch a fully revamped version of its Web site in a move aimed at repositioning the company ahead of a decision on its future by its owner News Corp. (NWSA)

News Corp. has been considering its options for MySpace, including a sale, according to people familiar with the plans. But it has been holding off on making a decision until Wednesday's relaunch as a social entertainment hub, which executives hope will breathe new life into the site.

The revamped MySpace will be a "drastic change" and a significant departure from the site's past, Mike Jones, chief executive, told the Financial Times.

"It's a completely new Web site," he said. "We felt that over time MySpace had become very broad in what it was offering. We believe that companies with a very singular focus have very happy users."

MySpace's tagline used to be "a place for friends" but that has been ditched, as has the company's old logo. The new site will instead encourage users to share and recommend music, film and television content, rewarding the most prolific trendsetters with "virtual tastemaker badges."

A celebrity category has also been added to allow MySpace to share links and information about the stars of tabloid magazines.

"We want people to be able to discover and share entertainment that they love," said Jones. "The more you can connect with trendsetters, the more you can discover new things."

The relaunch comes at the end of a turbulent period for MySpace: Jones is the third chief executive in 18 months, with his co-president, Jason Hirschhorn, recently leaving the company unexpectedly. Owen Van Natta, who was brought in to replace founding CEO Chris DeWolfe, left the site in February after nine months in charge.

"Things are stabilizing," said Jones. "I'm committed to the vision and News Corp. is committed to me." News Corp., he added, was "excited about the relaunched site and overall has been extremely supportive of what we're doing".

The company has been on a cost-cutting drive and recently brought staff from its music site, which had been operating almost as an independent company, into its Beverly Hills headquarters.

MySpace continues to attract 130 million regular users per month, although growth has stalled. MySpace used to be cluttered with advertisements but there are now fewer ad slots on the site.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs