It's prime time for selling online properties - Mar. 5, 2008: "But with all the big media shops coming to the table with propositions, it becomes evident that no one is really holding the winning hand, at least not in a game against Google.
Helge: Internet Web 2.0 and Google. What happens in Europe? The picture isn't just as clear. We still have all these national markets, brands and operators. It will be even more difficult for European companies to show it big.
MySpace, for example is the largest revenue contributor of all News Corp's Internet businesses. The popular social networking site has money coming in, but its largest deal is a multi-year guaranteed payment plan with Google, which will eventually bring in $900 million for its share of online ad sales.
Helge: MySpace, News Corp and Google.
Last June, News Corp's booked $50 million as its installment from this gravy train. Silicon Alley Insider's blogger and Net media analyst Henry Blodget estimates that MySpace had $600 million in revenue last year. That's merely a ripple on the company's $28.6 billion top line.
Helge: Old media still holds the lead, true.
The point here is pretty much well understood: for all their untapped Internet revenue potential, media conglomerates have yet to strike it rich in their online ventures. TimeWarner's AOL deal set the industry standard for failed Web opportunities and squandered resources. (TimeWarner is the publisher of Fortune.)"
Helge: How to make money with online ventures.