MySpace finally in China

Popular internet network site MySpace, owned by Rupert Murdoch's News Corp, has found a way into China. The company planned to launch a test version Friday of its first website in the second-largest internet market in terms of users in the world. MySpace will be run by a Chinese company controlled by local management. The company will license the technology from News Corp. The US company will have at least three seats on the board of the Chinese company, the Wall Street Journal reported. MySpace China Chief Executive Luo Chuan did not say how much money News Corp. invested. MySpace China has a tough battle ahead. The company is late coming into the market, which already has up to 300 similar sites and the brand, despie its size in the US, "is not very big" in China. Like its US affiliate, MySpace China will get most of its revenue from online advertising.