MySpace to launch in Japan this month.

Softbank and News Corp announced today that MySpace Japan will launch this month in a $8.5 million, 50-50 joint venture between the two media conglomerates. Masayoshi Son and Rupert Murdoch are set to meet this week to figure out the logistics. In Japan, MySpace's main competitor will be Mixi, which has over 5 million users and tons of cool features that make Japanese social networkers go ga-ga. I wrote a feature about it in Metropolis back in September. You can read it here.