It was the deal that marked the entry of major media into the nascent realm of online social ­networking. In September 2005, Rupert Murdoch paid more than half a billion dollars for MySpace and its ­parent, Intermix Media. The question back then was whether the ­tycoon overpaid. Today, the deal is ­considered one of the smartest in the cybersphere: MySpace now has 115 million ­users—nearly five  times more than when the deal was ­announced—and Murdoch has said the site is worth as much as $6 billion.

The Challenger

Facebook, a competing social-networking site founded by Mark Zuckerberg, has far fewer users (31 million) than MySpace but is growing much faster. From June 2006 to June 2007, the number of MySpace users rose 73 percent; Facebook’s grew  about 300 percent.

Prying Eyes
A group of attorneys general has subpoenaed MySpace to turn over the email and IP addresses of registered sex offenders with profiles on the site. In July, MySpace identified an estimated 29,000—more than four times the number it reported in May.

No, It’s My Space
Some users cried foul when MySpace removed material they had posted—like video-sharing software—that wasn’t owned by News Corp. The political website MoveOn.org has started a campaign accusing MySpace of censorship. DeWolfe says the site bars people from posting pornography or advertisements on their pages.

They Took the Money and Ran
Former Intermix C.E.O. Richard Rosenblatt, 37 (right), made $23 million on the sale. He now runs a company that owns websites. Brad Greenspan, 34, founder of Intermix, made roughly $48 million. He launched a bid for Dow Jones this summer.

Help Wanted
In two years, MySpace’s workforce has tripled; it now numbers 700, and the company is planning to add another 700 within a year. It recently moved into fancy new digs, with an on-site basketball court, in Beverly Hills.

Paging All Voters
All the major presidential candidates have MySpace pages. On hers, Hillary Clinton reveals, “I’m a lousy cook, but I make pretty good soft scrambled eggs.” To view Rudy Giuliani’s page, you must first add him to your account as a “friend.”

Google Bucks
A single deal with Google has already guaranteed that Murdoch will more than make back his investment: A year ago, Google agreed to pay $900 million in exchange for exclusive rights to place text-based ads on MySpace and other News Corp. sites. (Google wins too, because it gets all those MySpace eyeballs.)

Will They Stay?
The employment contracts of MySpace C.E.O. Chris DeWolfe, 41, and president Tom Anderson, 31, expire this month. Each co-founder pocketed a reported $15 million when MySpace was sold to News Corp. They are now believed to be asking for a two-year, $50 million renewal deal. DeWolfe wouldn’t comment on the number but says he and Anderson “hope to stay on.”