The Week: Media News - MySpace in ads initiative

MySpace is to roll out a targeted advertising system to allow brands to place ads that directly appeal to users' interests.

The social networking site said that its new "HyperTargeted" ads can be placed on the profiles of users, chosen on the basis of their interests, tastes and likes, and is understood to have signed up more than 50 advertisers to the system, including Procter & Gamble, Microsoft and Ford. Kylie launches fans site

Kylie Minogue has launched her own social networking site, KylieKonnect, which allows fans to create personal profiles, upload images and blogs, and chat with other fans. The site also allows users to manage their web pages from their mobile phone and buy tickets for Kylie concerts.