MySpace joins the Google team

Internet social networking leader MySpace is joining Google Inc.'s new social platform to undermine the swift expansion of Facebook Inc.

The Associated Press reports that Internet social networking leader MySpace is joining Google Inc.'s new social platform to undermine the swift expansion of Facebook Inc. CNetnews.com reveals that the News Corp.-owned site will be part of Google's new social networking initiative in the works.

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As if the iPhone hasn't received enough publicity already, it was named Invention of the Year by Time magazine. This was judged based on the aesthetic design of the product, as well as the functional capabilities available on the pretty phone.

Media giant Time Warner is embracing plans to break up the company. The company has been making progress towards its plan that would result in the split off of Time Warner Cable, which would include the spin-off of publishing and parts of its AOL unit, CNBC.com reports.

According to Advertising Age , Newsweek's new management is planning to cut its guaranteed paid circulation by 500,000 copies, which drops it's the number down from 3.1 million paying readers to 2.6 million.

New England Patriots quarterback Tom Brady is the new face of Glacéau unit's Smartwater line. His three-year deal is worth $3 million to $5 million, with a bonus based on sales.

The ongoing investigation into Oprah Winfrey's leadership academy for girls has revealed that a former dormitory employee is being arrested on several charges of abuse.

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