MySpace: No Free Ride in Europe
Rupert Murdoch has hit pay dirt with MySpace. Since his News Corp. (NWS) bought the popular online social network last July, MySpace has doubled in value and recently closed a $900 million advertising deal with Internet powerhouse Google (GOOG). But while MySpace is the king of the hill in the U.S., growing overseas may not be as easy. Local and U.S.-based rivals are already entrenched in many European countries—and they're girding to do battle with the newcomer.
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