by: Julia Boorstin posted on: July 24, 2008 | about stocks: NWS ) President and COO Peter Chernin took the hot seat, talking about competition and the 'MySpace effect." Fortune's media correspondent Richard Siklos interviewed Chernin in front of attendees of the Fortune Brainstorm: Tech Conference. In an event crammed with Chernin's competition -- other media and tech execs -- Chernin says the competitive set is "much less relevant." There's so much competition, infinite possibilities, Chernin says he thinks of News Corp's biggest competitor as itself and its own limitations. There's been a ton of buzz about Facebook here at Brainstorm:Tech, so MySpace is a natural topic. News Corp bought MySpace for a steal, a mere $580 million, making News Corp seem quite forward thinking. (Facebook's value is some $15 billion based on a...
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