Fox Interactive Media | featured news

The social networking site plans to return to its roots by pushing entertainment content and jettisoning portal-like features. In a last-ditch effort to revive struggling MySpace, owner News Corp. has adopted a new strategy that it hopes will give the site's millions of users a reason to keep coming back.

Lots more details are coming in on the Photobucket fire sale by MySpace/News Corp. The sale is all but complete, say new sources.

Social networking site MySpace said Tuesday that it plans to slash nearly 30% of its workforce, leaving it with 1,000 employees.

Here's the email that Jonathan Miller, News Corp.'s CEO Digital Medial, sent to all Fox Interactive employees about the departure of MySpace cofounder and CEO Chris DeWolfe. DeWolfe is gone.

Former AOL CEO Jon Miller is close to taking a new role overseeing digital strategy at News Corp.