Friday, September 22, 2006

Economic Networks

Time Warner chief queries internet prices - Financial Times - "Facebook, a social networking site aimed at college and high school students, is run by its 22-year-old founder, Mark Zuckerberg.

The company has been in talks with numerous media groups, including Yahoo, Microsoft and Viacom.

Media executives said most media companies had taken a look but so far there was no appetite to pay the $1bn being sought by Facebook's backers.

YouTube, a video sharing site founded less than two years ago and also run by founders in their 20s, has become one of the top destinations for video content.

Rupert Murdoch, chairman and chief executive officer of News Corporation, acquired MySpace, the world's most popular social networking site, last year for $580m.

Since then, Mr Murdoch has struck a deal with Google that guarantees income from search-word advertising of $700m over the next four years."

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