News Corp.’s Fox Interactive Media announces restructuring
MySpace parent company Fox Interactive Media, a unit of News.Corp, announced late Thursday night the creation of a new “Audience Network” unit that will be led by Adam Bain, who was previously the company’s executive vice president of technology and production.
The new unit’s charter, according to a company statement, “will be to optimize monetization across FIM’s content network and for third-party publishers,” leveraging the company’s ad technology that can target ads based on interests. The new unit will combine advertising technology, ad operations, and performance sales efforts into one unit.
The news comes on the heels of an announcement earlier Thursday of MySpace’s new music service. It also comes as the company is expected to miss its revenue targets, as was reported earlier on TechCrunch in a report anticipating the reorganization.
TechCrunch, and later The Wall Street Journal, also reported the expected departure of the company’s chief revenue officer Michael Barrett.
In addition to MySpace, other FIM networks include Photobucket, IGN Entertainment, and FOXSports.com.
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Source: CNET News.com – Business Tech