News Corp, the media company, announces plans to relaunch MySpace to a younger audience. The social networking Web site, which has seen almost a 50 percent drop in its traffic in Australia over the past year, says that it intends to "go youthful" and put a premium on "creativity and self-expression."

MySpace first lost out to Facebook as Australia's leading social networking Web site in April 2008. Currently, Facebook attracts over six times more users than MySpace in Australia. Facebook has 8.7 million unique users in the country, while MySpace attracts 1.4 million users.

MySpace has lost about 45 per cent of its users (1.1 million unique visitors from Australia) from July 2009 to June of this year. In the time period, Facebook membership in Australia grew at the same rate that MySpace's user base shrank.

In an interview with the Sunday Morning Herald, Jon Miller, News Corp's chief digital officer, said that the Web site maintains a strong user base globally. He adds that the company will unveil "a whole new look and feel, and underneath it a whole new set of use cases."

"We are pregnant with product - it's really starting to roll out over the course of the next few weeks and well into the fall leading into a full relaunch of the service."