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In July 2005, in one of the company's first major Internet purchases, Rupert Murdoch's News Corporation (the parent company of Fox Broadcasting and other media enterprises) purchased Myspace for US0 million.
After losing the bidding war for Myspace, Viacom chairman Sumner Redstone stunned the entertainment industry in September 2006 when he fired Tom Freston from the position of CEO.
That resulted in De Wolfe and Anderson gradually losing their status within Murdoch's inner circle of executives, plus De Wolfe's mentor Peter Chernin, the President and COO of News Corp.The group decided to mimic the more popular features of the website.Within 10 days, the first version of Myspace was ready for launch, implemented using Cold Fusion.A complete infrastructure of finance, human resources, technical expertise, bandwidth, and server capacity was available for the site.The project was overseen by Brad Greenspan (e Universe's Founder, Chairman, CEO), who managed Chris De Wolfe (My Space's starting CEO), Josh Berman, Tom Anderson (My Space's starting president), and a team of programmers and resources provided by e Universe. The company held contests to see who could sign up the most users.