MySpace Planning Social News Site

MySpace seems to be the next site to join the social news trend, according to media analyst Terry Heaton. Heaton reports, based on inside sources and Fox Interactive Media's own marketing materials, that it plans to launch MySpace News, a social news site similar to Digg. As Pete Cashmore notes at Mashable, this is likely being built on technology that Fox bought in the acquisition of Newroo last year.

Heaton thinks the MySpace play will have a much better chance of success than USAToday's social media makeover earlier this week, which he calls "a Media 1.0 play in Media 2.0 clothing."

UPDATE 3/13: Wired News claims to have obtained a leaked sales document showing screenshots of MySpace News.