Facebook: Worth it?

In any case, watching the established media conglomerates try to figure out how to make social networking pay off is a fascinating past-time all by itself. To that end, Fox Interactive Media CEO Peter Levinsohn today made some interesting comments about FIM’s plans for MySpace at the Reuters Media Summit. First, he says, MySpace soon will allow people to create work- and family-friendly profiles, in a pretty overt (and reasonable) attempt to gain market share. Second, Fox is pretty close to creating an ad-sharing network that will serve both Fox properties as well as external ones. We’ll have to wait and see if these two efforts lead to the revenue gains Fox seeks.