MySpace to lay off 30 percent of staff

MySpace, the social network owned by Rupert Murdoch's News Corp, said it will cut 30 percent of its staff to lower costs as it struggles to stay popular in the face of rising competition.

Moneyman Herbert Allen to host some heavy media executives-

Sun Valley, Idaho will be the place to be as the big boys, and 2 big girl, gather for the annual meetings/playtime, put together by financier Herb Allen.

For five days beginning Tuesday, media mavens will sit in on confabs and participate in informal business discussions.

Here are some of the heavy hitters due to show: Rupert Murdoch, Sumner Redstone, Warren Buffett, Meg Whitman, Henry Kravis, Mel Karmazin, Philippe Dauman, Jerry Yang, Howard Stringer, Richard Parsons, Jeff Bezos, Edgar Bronfman Jr, Ron Meyer, Robert Iger, Brad Grey, Mark Zuckerberg, Marc Andreessen, David Zaslav, Blake Krikorian,Sergei Brin, Eric Schmidt, Richard Lovett, Jim Berkus, Jeff Berg and Jim Wiatt. Possibles include: Jeff Katzenberg, Steven Spielberg,David Geffen.

Bill Gates, who stepped down as CEO of Microsoft, may not attend this year.



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