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MySpace overhauled in attempt to stem decline

27 October 2010 Last updated at 23:25 BST

When News Corporation bought MySpace back in 2005 it had the young, fashion conscious audience that advertisers target, and the social networking site was growing fast.

But five years on, News Corporation is trying to reverse a decline in visits and stem losses, that one analyst put at $350m last year.

Juliana Liu reports.