Wendy Combattente

Shortly after launching the site, team member Chris DeWolfe suggested that they start charging a fee for the basic MySpace service. Brad Greenspan nixed the idea, believing that keeping MySpace free and open was necessary to make it a large and successful community. Some employees of MySpace including DeWolfe and Berman were later able to purchase equity in the property before MySpace, and its parent company eUniverse (now renamed Intermix Media) was bought in July 2005 for US$580 million by Rupert Murdoch's News Corporation (the parent company of Fox Broadcasting and other media enterprises). Of this amount, approximately US$327 million has been attributed to the value of MySpace according to the financial adviser fairness opinion.
In January 2006, Fox announced plans to launch a UK version of MySpace in a bid to "tap into the UK music scene" which they have since done. They also released a version in China and have since launched similar versions in other countries.
By late 2007 into 2008, Myspace was considered the leading social networking site, and consistently beat out main competitor Facebook in traffic. When Facebook launched new features in an effort to attract a variety of users, Myspace found itself in a continuing decline of membership. As of July 2010, the site was ranked 25th in Internet traffic, opposed to the 2nd position held by Facebook.