Fox Interactive Reorganizes Ad Division, Axes Exec

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losingmoney.jpgADOTAS – In a bid to boost its interactive advertising revenues, News Corp.’s Fox Interactive Media Internet division is getting revamped, the company announced this morning. The division oversees mega social network MySpace.

There are two major changes afoot: Fox will launch (at long last) an online advertising network and the company will say goodbye to chief revenue officer Michael Barrett as it struggles to meet (Fox admitted it may fall short, oh, $100 mil or so) its fiscal 2008 revenue target of $1 billion.

Adam Bain will run the new interactive advertising network – called Fox Interactive Media Audience Network. It will consolidate Fox’s latest attempts to bring home the bacon – such as behavioral technologies like “hyper-targeting,” its ad operations and performance sales units.

The reality of selling ads on social networks has been a head-scratcher for some time as industry executives struggle to find ways to lure people to ads without seeing usership crumble.

Fox says it will continue to work with third-party networks to sell advertisements across all of its sites.

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