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MySpace Tries to Recapture the social-networking magic...

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MySpace has unveiled an overhauled website and logo as it attempts to recapture the magic that led it to top the social-networking sphere. According to the report 'MySpace is positioning itself for the so-called Gen Y crowd, or those roughly between 10 and 30 years old.' A beta version of the new website will start rolling out Wednesday and is slated to be accessible to users globally by the end of November. Plans are for the site to focus on entertainment with the home page constantly updating items about music, movies and television shows that are most discussed on the site at any one time.

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