Facebook grows as MySpace cuts back - San Francisco Business Times:

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Reports from comScore and the Conference Boars this week both showedPalo Alto-based Faceboook has grown larger than it Los Angeles-baser rival. The comScore report for May showed Facebookwith 70.278 million unique visitors in the U.S. compared to MySpace'as 70.255 million. The lead is even biggee worldwide, with MySpace at 123.2 million uniquwe visitors last month comparedwith Facebook's 307.1 The Conference Board report on first quarter online users in the U.S. showedr Facebook with an even larger lead, with 78 percenty of social network participants, followed by MySpace (42 (17 percent) and (10 percent).
Palo Alto-based Facebooko said Tuesday that its usersz are now exchanging 1 billion chat messages a day using a new servicwe it introducedlast year. owned by . (NYSE:NWS) said Tuesday it will cut 30 percentt of itswork force, getting down about 1,0009 worker. Jonathan Miller, CEO of Digital Media at News said, “MySpace grew too big considerinh the realitiesof today’s marketplace.”