Los Angeles – Following the departure of president Adam Bain
for Twitter, News Corp. (NYSE: NWS) says it will fold the Fox Audience Network he led into
its MySpace unit.
Created in 2007, the in-house ad network reaches over 150
million unique users.
News Corp. chief digital officer Jon Miller acknowledged
that the company had reportedly been talking to a number of interested parties
on a sale or partnership with FAN.
"After deliberating over these external
options, we ultimately decided that the best path for FAN — and for News Corp.
— is to put this leading-edge technology to work to benefit our existing
assets," said Miller.
"By aligning the FAN platform directly with
MySpace, we will be able to utilize its services to further drive MySpace’s
revenue efforts and to play a key part of the site’s planned relaunch later
this year."
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