"(Dick Parsons, chairman and chief executive officer of Time Warner) said the two most attractive assets available to increase web traffic were Facebook and YouTube. '[But] it's a tough assignment. Valuations that are put on those businesses that currently make no money are astronomical and you have to have a big leap of faith,' he said.
"Mr Parsons said the success of the MySpace acquisition (for $580m last year by News Corporation) was further increasing the appetite for deals by media companies. 'It [the MySpace deal] appears to have been a masterstroke,' he said." /MSNBC.com/
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