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27 Apr 2007
News Corporation has struck a deal to bring its MySpace social networking website to users in China.
Rather than launching the site itself, the company is licensing the brand to two venture capital firms in the region.
Former Microsoft executive Luo Chuan will be put in charge of the site as chief executive.
MySpace will also have three members on the board of MySpace China, including original founders Chris DeWolfe and Tom Anderson, as well as Wendy Deng, wife of News Corporation owner Rupert Murdoch.
Known investors in MySpace China include the International Data Group and China Broadband Capital Partners, which was founded by former China Netcom Group Corp chief executive Edward Tian.
Chuan said that MySpace China would avoid the disappointments experienced by many other western companies when trying to launch into the burgeoning Chinese market by giving the service a local identity.
He stressed that MySpace China would be a "locally owned, operated and managed company".
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