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29/09/2006

MySpace worth $15 billion in 3 years, says RBC

According to Reuters:

RBC Capital analyst Jordan Rohan said MySpace could be worth around $15 billion within three years, measured in terms of the value created for shareholders of its parent company, News Corp.

Dealbreaker probably sums up the feelings of many when it says the assessment "provoked gawking of disbelief from many observers, and flashbacks to 1999 for others."

Some commentators are backing that up by saying it's an attention-seeking ploy from the analyst. Yahoo!'s analyst scorecard doesn't give enough information on Mr Rohan's reliability / track record, but a quick peek at Google News shows he's certainly got some attention with this valuation.

On the other hand Searchenginewatch says his track record makes him worth listening to. If a $15 billion valuation in three years is achieved, it would back Eric Schmidt of Google's prediction to Murdoch that the $580 million purchase of MySpace would be the "best deal of his life".

: : Meanwhile, PR Week  (log in required) reports that  MySpace VP Jay Stevens has put out a call to PR agencies to "use the site to reach consumers".

Bring me your PR campaigns, your huddled focus groups, etc...

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