Murdoch internet revenues stalling

RUPERT Murdoch has delivered a sobering assessment of the internet as a growth engine, revealing search and advertising revenues at News Corp's Fox Interactive Media division, which houses the popular MySpace networking site, have stalled.

The new-media unit, which has invested heavily in expanding the MySpace site, contributed just $US7 million ($10.4 million) to News Corp's $US818 million second-quarter operating income.

There was a "slight downturn" in revenue at the social networking site, Mr Murdoch said. That compares to $US179 million News Corp made from newspapers including The Wall Street Journal and information services such as the Dow Jones news wire.

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