MySpace.com plans to take on Google News, thus entering the Cable Game in a big way, according to Reuters' Kenneth Li.
Pretty interesting stuff from Li:
News Corp.'s MySpace social network plans to test a service on Thursday that scours the Web for news stories and lets users rate them, aiming to lure more advertisers to the Rupert Murdoch-controlled company.
The service, called MySpace News, resembles a mix of Google Inc.'s Google News, which collects stories and arranges them based on thematic similarities and Digg.com, which displays stories suggested by its readers and displays them according to their popularity ranking, executives said.
MySpace News is an attempt by the company to keep its more than 100 million unique visitors, according to comScore Network's March figures, on the popular social network site longer.
News Corp. executives are aggressively courting entertainment and other types of content from other media sources as it seeks to bolster a leading position on the Internet, executives have said. News Corp. expects to generate over $500 million in revenue from its digital businesses this fiscal year.