MySpace and Media Capital announce strategic alliance in Portugal

MySpace, the world's leading entertainment and social networking site, and Media Capital, Portugal's top media group and property of PRISA, have announced a strategic alliance for the Portuguese market. From today on, the MySpace Portugal site and its commercial exploitation will be administered by Media Capital Multimedia.

MySpace was established in Portugal in 2008 and has 500,000 registered users as well as 40,000 music profiles. Media Capital Multimedia, meanwhile, has a significant online market presence through IOL, the second largest internet portal and through key websites in sectors such as  tvi24.pt (belonging to TVI's 24-hour news channel), Maisfutebol and the Agência Financeira.

Both partners will obtain 50% of the advertising revenue, which is expected to reach 350,000 euros in 2009.