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Apparently, the story goes on to say, News Corp’s Fox Interactive Media (FIM) executives have come up with an elegant solution which means they won’t have to splash out on a billion dollars for LinkedIn:

FIM President Peter Levinsohn told Reuters last week that MySpace plans to let its users create different profiles to attract different contacts, such as personal friends, business contacts or family members.

If this is the case, the biggest problem with MySpace isn't that it's old hat or its growth is slowing or it has too many ads. None of that matters if it has no clue who its users are and what they're doing on the site. I am friends with a number of business contacts on MySpace, but I don't know of anyone using it for business purposes, and they're not going to start just because there are a few new profile settings. Though perhaps some of the invite spam that comes along will now say "BubblesHot4U69Tonyte wants to be your business contact on MySpace."

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