Sources tell TechCrunch that MySpace is poised for "massive" layoffs that will likely affect between 300 and 500 employees either at MySpace alone or at Fox Interactive Media, the company's parent. MySpace currently makes up around 1600 of the 2900 employees at FIM. Last summer, the social networking giant let 5% of its staff go and as many as 45 employees were laid off last month, but "these cuts go deeper," says TC's Jason Kincaid. Which means that the company's legal team will need to submit paperwork in compliance with California's WARN act, which requires large companies …

During his interview with Fox Business, Google CEO Eric Schmidt said the search giant is looking to buy smaller technology companies in the next year to focus on cloud, mobile and open source technology. "We have been [looking to acquire]," Schmidt said. "We have been wandering around looking at all of the different companies. With the big ones we haven't come across anything we've particularly liked. We are definitely talking to a number of smaller companies but we've done that routinely." "We primarily look for technology. It's a typical build versus buy. How long does it …

PaidContent.org's Rafat Ali excerpts Fox Business's interview with Digg CEO Jay Adelson, who says his company is targeting profitability this year and will have plenty of cash in the bank once that happens. Adelson reports that those Digg buttons you see strewn across the Web generate 1.5 billion impressions per month, growing at a rate of 100 million to 200 million per month. Adelson also reports that Digg's advertising business -- it's sole revenue source-is healthy and growing, with strong demographics and ad rates that are 10-20 times the price for an ad on a social network. He …

A recent Harvard study of Twitter usage found that just 10% of the microblogging service's users generate more than 90% of the content, and half of all people using the service update their page less than once every 74 days. The researchers also found that most people only ever tweet once. "Based on the numbers, Twitter is certainly not a service where everyone who has seen it has instantly loved it," said Bill Heil, a graduate from Harvard Business School who was part of the team that conducted the study. "This implies that Twitter's resembles more of a one-way, one-to-many …

In an interview on Fox Business on Tuesday, Google CEO Eric Schmidt dismissed Bing as only the latest in a series of efforts to revamp Microsoft's search business, which currently runs a distant third behind both Google and Yahoo in the search market. "It's not the first entry for Microsoft," Schmidt said. "They do this about once a year. From BING's perspective they have a bunch of new ideas and there are some things that are missing. We think search is about comprehensiveness, freshness, scale and size for what we do. It's difficult for them to copy that." Schmidt added …

As it turns out, long form content simply isn't that popular on YouTube, the runaway leader in online video. So, for all the talk about studio deals, the real opportunity for the Google video site lies in the so-called mid-tail, says Ad Age's Michael Learmonth, which fills a niche somewhere between studio-produced and user-generated content. This is a category that didn't really exist before YouTube, but it may play a significant part in its future, because the mid-tail actually supplies the biggest pool of brand safe impressions, Learmonth says. The top 100 mid-tail producers include the likes of College Humor …