Rupert Murdoch's new handpicked president of FIM Audience Network, Adam Bain, has the requisite big idea to save MySpace: an ad network which lets his salespeople sell ads all over the Web, not just on MySpace and other News Corp. sites.The idea is to take what MySpace has learned about its own users and share it with publishers and advertisers, to better target ads. What behavioral insights Bain expects to garner from "thanks for the add" isn't clear. But at this point the Fox Interactive Media Audience Network remains little more than a thought bubble — and Bain left it to MySpace's top US sales exec, Bryce Emo (pictured), to deliver the news.

When the reshuffled Yahoo Media Group in Santa Monica holds an all-hands on April 15, it's going to be awfully tempting for Adam Bain to send spies. He's the the head of Fox Interactive's new ad network and his unit moving into the "Yahoo Center," reports PaidContent. Talks over renaming the place are underway. We nominate: "Bill's place." (Photo by stevelyon)

Fox Interactive Media — the unit overseeing MySpace and other News Corp. online properties — will miss its fiscal-year revenue projections of $1 billion by more than 10 percent, or $100 million, the WSJ reports. As a result, Fox Interactive chief revenue officer Michael Barrett is out of a job. The big problem is making money off of MySpace. It has lots of users, but as MySpace advertising partner Google has discovered, brands don't want to put their product next to Tila Tequila. So now MySpace is going to try something we thought Facebook would do — create an ad network that targets MySpace members when they visit third-party sites. It'll be called the "Fox Interactive Media Audience Network," and Adam Bain will run it. PaidContent obtained a memo from Peter Levinsohn, president of Fox Interactive Media on the reshuffling and it's pasted below.