Is Murdoch's MySpace losing out to rivals?

Time is running out for Rupert Murdoch's great internet experiment, claims an article in The Business. It contends that his MySpace social networking site "is doing far less well than its owner would like us to believe" because some 50% of customers who sign up for an account never return, and that the increase in new traffic is beginning to slow, especially among 12 to 17-year-olds. It argues that there is growing popularity instead for wayn, habbo, facebook, and virtual reality networks such as Second Life. (Via The Business)