Check out this article that is one of many to be buzzing on the social networking scene.
A News Corp source said that Rupert Murdoch, the company's chairman and chief executive, remained committed to the internet, although he has conceded in an aside in a recent interview with The Wall Street Journal that the privately owned Facebook was gaining ground. Asked whether newspaper readers were drifting off to MySpace, Mr Murdoch joked: "I wish they were. They're all going to Facebook at the moment."
Wow, Uncle Rupert would say this! Mashable post, about the Yahoo, MySpace buzz, it links to the Times article linked above. Techcrunch article on the buzz. Valleywag posting on the buzz. My take on all of this is, I think this is all buzz. I think Murdoch is manipulating the media, and warming them up for something more to come.