News Corporation is finalising its plan to launch MySpace in China in a deal that will see it hold less than a 50% stake in the venture, according to a report.

I wonder if any U.S. companies who advertise on MySpace see the potential in localizing their product offerings and advertisements for these new markets? Judging from the international fare already offered by MySpace, the answer appears to be "no." MySpace itself doesn't appear to have made much of an effort to deliver a truly localized experience to its international users. Cyworld, which is the MySpace equivalent in Korea, appears to have already gotten a toehold into the Chinese market.

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About a third of MySpace's 90 million global unique visitors in December 2006 were from international markets, according to comScore Media Metrix data.