Bebo to close in Australia, succumbs to Facebook dominance

The Facebook juggernaut has claimed the scalp of AOL Time Warner’s $US850 million ($921 million) acquisition of Bebo, with the social media site tipped to close its Australian operation before Christmas as part of a global retreat and rethink.Bebo’s woes follow the troubles Facebook has inflicted on News Corp’s one-time darling MySpace, which has been forced to reposition itself as a leader in the online music area and let Facebook dominate the service of broader social networking.

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