MySpace goes to Mr. Murdoch

While I was away sailing the gorgeous waters of Gocek, MySpace, the media-darling Friendster-killer SNS (NY Times Free Registration required) got acquired by News Corp. for a nice $580m.  Congratulations to Redpoint Ventures, and especially Vantage Point, who’d come in earlier, for a nice exit.

Mark Pincus mentions reported revenues of around $9m.  If this is true, what really is the asset being sold?  I suspect it is the:

a) Trust
b) Attention, and
c) Future loyalty

of the MySpace users, 12-25 year-old music fans.  What a miss for MTV Networks…  Continuing good news for Craigslist, who enjoys an even broader audience, with the above 3 factors present.

I suspect music is a fairly universal connector.  Another I can think of is sports; soccer, to be precise.  Will there be a MySpace for sports?  Or, is MySpace the MySpace for sports?

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