Ad space for MySpace?

Everyone - including Rupert Murdoch - has been wondering how News Corp. intends to monetize its investment in MySpace - an environment that doesn't immediately lend itself to advertising or traditional marketing techniques. In a move that is both surprising and obvious given News Corp.'s line of business, MySpace is considering launching a print magazine, according to a story in Advertising Age yesterday. AdAge speculates that the magazine would be produced by the team that publishes hipster mag Nylon.

It's not very Web 2.0, but I'm pleased to see that the traditional media aren't dead yet...