April 4, 2008 12:22 AM PDT

News Corp.'s Fox Interactive Media announces restructuring

MySpace.com parent company Fox Interactive Media, a unit of News Corp., announced late Thursday the creation of an "Audience Network" unit.

Adam Bain, who was previously the company's executive vice president of technology and production, will lead the new unit.

The 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.

Michelle Meyers is an associate editor who tracks online happenings in media, entertainment, and politics. E-mail Michelle.

Topics:: Media

Tags:: Fox,; online advertising,; media,; News Corp.

Share:: Digg; Del.icio.us; Reddit; Facebook; Twitter

Inside CNET News

Scroll Left Scroll Right

The Download Blog
Google Chrome now bundled with Avast
You wouldn't necessarily expect it, but Avast and Google Chrome might be the next peanut butter-and-jelly combo in the software world.
Gallery
Solar Impulse aircraft flies, briefly (photos)
The Open Road
In mobile, do developers or consumers matter most?
Apple took the lead in mobile by appealing to consumers, but Google could surpass the iPhone if it can marry a strong developer story with consumer sex appeal.
Beyond Binary
Windows 7 family pack starting to sell out
Microsoft had said it was a "while supplies last" offer and, sure enough, supplies are starting to run out. It's still available at Amazon, though.
Video
Microsoft's new mapping tricks
Media Maverick
Sources: Apple wants technology from struggling Lala
Sure, Apple could offer some kind of "cloud" or streaming service but as the company mulls an acquisition of a streaming-music service, its goals may be less ambitious.
Video
A window into the Microsoft Store
Green Tech
'Green' gas and diesel get boost in biofuel grants
Federal government pumps more than $600 million in projects to demonstrate advanced biofuels, including cellulosic ethanol and plant-based replacements for diesel, jet fuel, and gasoline.
Technically Incorrect
Bartender, gimme a beer from outer space
Japanese brewer Sapporo launches a beer it says is made from barley grown on the International Space Station. The 250 winners of a lottery for it will each receive a six-pack.
Gallery
Intel's 48-core processor debut (photos)
The Web Services Report
Report: MySpace to adopt Facebook Connect
Inside Facebook reports that MySpace will be implementing Facebook Connect on its site in early 2010, making it one of the biggest Connect installations to date.
30 Days of Innovation
Build muscle, charge your phone with YoGen
Easy Energy will launch the YoGen at CES 2010, a mobile charger that solely relies on hand power. The pocket-size charger lets you generates energy by repeatedly pulling a ripcord.