Media Money with Julia Boorstin

MySpace's Own TV Show And Murdoch's Future

MySpace Roommates

Fox knows how to produce content--and now its interactive division is producing a special kind of content for the web. But these aren't just ordinary 'mobisodes:' this is a show created solely for MySpace TV, which is of course owned by News Corp . Called "Roommates," it's about a group of women who've just graduated college and moved to LA, this is in fact, the first web-only series designed for MySpace.

Starting tonight, through Friday, the site will offer three minute installments. Attempting to keep viewers engaged through the week, "Roommates" encourages MySpace users to communicate with the characters profiles, and to post their ideas about where the plot should go. An ongoing polling system to allow MySpace users to vote on plot lines, will influence the direction of the plot.

So who wins? MySpace, if this succeeds in driving traffic. And Ford . The company's show ponsor is the Ford Focus, which is what the characters drive, and you'll see the Ford ads on the show.

And speaking of News Corp, its 76-year-old, Rupert Murdoch plans to remain CEO for another three years at least. That's what he said last week at the company's shareholder meeting, when he also weighed in on the valuation of his various cable networks. Murdoch says Fox News Channel should be worth some $10 billion in the next few years. He also made some comments on Fox Business Network's attempts to compete with CNBC (owned by GE).

Though he doesn't yet have the Wall Street Journal as an asset for the business channel, he'll be working on improving its profitability. He talked less about dumping the subscription model and turning to ad-supported, than onemight have expected, instead stressing the idea of adding vertically integrated sites.

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