MySpace, FOX, Producers Guild Announce New Talent Initiative

LOS ANGELES, July 26: MySpace,
the Fox Broadcasting Company and the Producers Guild of America have launched
The Storyteller Challenge, inviting aspiring producers to submit short-form
pilots for online broadcast in a bid to win a television development deal.

Up-and-coming producers
are invited to enter their original 5-7 minute ideas on a dedicated MySpace
community page beginning September 4, 2007. Two winning entrants will each
receive $25,000 and an opportunity for a development deal with FOX. The winners
will be determined by a combination of user rankings and judging by a panel
consisting of members of the Producers Guild of America, top film schools and
FOX executives. The MySpace community will have exclusive access to the entries
and can vote on their favorites, as well as interact with the creators, suggest
plot lines and critique videos.

"The Storyteller
Challenge gives aspiring producers the potential opportunity to cut through
Hollywood's red-tape and get an audience with top brass in the television
business, all while cutting their teeth with the MySpace community," said
Chris DeWolfe, the CEO of MySpace. "By tapping into MySpace's community of
millions of users worldwide, FOX and the Producers Guild will have a crack at
discovering the best new ideas from the most promising aspiring talent."

Marshall Herskovitz, the
president of the Producers Guild of America, added, "One of the most
exciting aspects of working in entertainment today is that you never know where
the next great storyteller will come from. Companies like MySpace have given
aspiring producers the essential tools to put their creations in front of a
mass audience; as a result, the barrier to entry into this industry is lower
than it's ever been in our lifetimes. Make no mistake, producing will always be
a difficult and competitive job, but I'm proud that our Storyteller Challenge
will give unique new voices the chance to find their audience."

The top six finalists will
be announced on January 6, 2008 and flown to Hollywood to meet, screen and
pitch their series ideas to the judges. Winners will be announced on January
25, 2008, and the winning videos could be featured on MySpace Film and
MySpace's new global video platform, MySpaceTV.