While MySpace and its parent company, News Corp., slash away at staff counts, MySpace is confronting an even bigger problem down the road: how to regain its sense of cool.
MySpace is most likely moving to redefine itself as a music and entertainment site, which could improve returns for advertisers, Reuters reports. However, plenty of challenges loom for the damaged social media brand. MySpace is approaching the expiration of its $300-million-a-year advertising deal with Google. Analysts expect a new deal to be only half that value.
