News Corp 'experimenting with social media'

Category: Internet Trends

May 8th 08, 09:44

Media conglomerate News Corp is looking for ways to experiment with social media, its chief operating officer said in a conference call this week with shareholders.

Peter Chernin stated that there is "a learning curve to make money off of social networking sites", Fortune magazine's Techland blog reported this week.

He stated that while it is currently difficult to quantify the economic value of a "friend" on a site such as MySpace, News Corp is working with "major brands and agencies" to experiment with social media.

Mr Chernin continued that there are further developments to be made, including changes to the site's homepage, third-party applications and advancements in MySpace Music.

In the same conference call, he stated the firm was "very comfortable" with its current position on the web and was not in discussion with Yahoo! or Microsoft.

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