The waning prospects of MySpace, once the dominate social network, are pushing parent company News Corp. to make some startling moves.
The Wall Street Journal reported on Friday that Rupert Murdoch, CEO of News Corp., said he plans to reshape MySpace into an "entertainment portal."
The Journal reported that MySpace will enable the site's users, the number of which is quickly shrinking, to access entertainment and related information.
The statements, made at the Allen & Company Conference in Sun Valley, Idaho, come as Facebook continues to outpace MySpace in almost every relevant metric.
First, MySpace is already heavily geared towards entertainment.
Los Angeles-based MySpace has long provided users with a means to upload their own video clips, so user-generated video is covered.
It's hard to imagine something like that would move the needle much.
Could Murdoch be doing a little Sun Valley spin?