Why Sky and My Space are new family members

ITV bought the Friends Reunited website and Rupert Murdoch's News Corporation (owner of Sky, Fox, 20th Century Fox, The Sun, The Times, the list goes on) bought My Space, among countless other popular websites. If you want to know why, this article gives just one reason - advertising revenue. It's expected that the amount of money spent on Internet advertising will exceed that spent on news press advertising during this year. So you can see why traditional media companies want to get in on the internet act.