Is Facebook Jealous Of MySpace?

by Jason Wilk on September 13, 2008

  • Owen Van Natta, a former Amazon and Facebook exectuvie, is supposedly close to landing the new MySpace Music CEO job.
  • The new MySpace Music could potentially be killer with partnerships amongst three of the 4 major record labels and an extra $120 cash infusion from MySpace itself.
  • MySpace has made it apparent that tickets, music (powered by Amazon), merchandise, and more will be part of the new re-brand.
  • Facebook has taken over MySpace for traffic, but MySpace has a cash rich bank account, generating 800-900 million a year in revenues.
  • The new Myspace Music will be yet another profitable venture for the FIM team. Is Facebook jealous?

Made tiny from: TechCrunch.com original post

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