Thursday, September 28, 2006

MySpace may be worth $15 billion

CNET "MySpace, the social-networking Web site, could be worth around $15 billion within three years, measured in terms of the value created for shareholders of parent company News Corp., a Wall Street media analyst forecast Wednesday.
RBC Capital analyst Jordan Rohan said he had come away from a meeting with Fox Interactive, the managers of MySpace, believing that 'media investors may not fully appreciate what has already been done with MySpace or what may lie ahead.'
'$15 billion in a few years? It is possible,' Rohan wrote in a research note to clients.
MySpace was acquired by Rupert Murdoch's News Corp. for $580 million less than a year ago. It now boasts more than 90 million active users. "

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