According to the company’s top interactive-media executive, News Corp., parent company of MySpace, is in ‘active negotiations’ with media companies to bring their content to the wildly popular social networking site.

As a massive news generating machine, this will be yet another outlet for New Corp.’s (the ultimate parent company of MySpace) content, and I assume that it will get priority over other news sources.

While it seems like a good move for News Corp. on the surface, it might not sit very well with the target demographic of MySpace, which quite frankly doesn’t really care about genocide in Sudan.

Not only that, but according to the president of Fox Interactive Media, Peter Levinsohn, the site may also launch a multi-network video site that would rival YouTube. This news comes after increasing speculation in recent months, that multiple media companies could take advantage of synergy and rival YouTube.

Read more.

Related posts:

1. MySpace launches video-sharing site to rival YouTube
2. Jason Kilar joins NBC, News Corp; heads online venture to rival YouTube
3. NBC Universal, News Corp, names the next YouTube rival
4. MySpace revenue still disappointing for News Corp
5. MySpace and NBC News launch “Decision ‘08″ hub

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