Why is Hollywood Turning Their Backs on Myspace and Youtube?

I heard (from several anonymous sources), that Steve Jobs is interested in making a bid to purchase a web based networking community (www.filmstars08.com) that has attracted much attention in Hollywood. It's even got some of the top film producers in Bollywood turning to it in place of the social network powerhouses MySpace and YouTube.

I was told this isn't sitting well with heads of Apple. Jobs reportedly was in the market to buy a web-portal just before he stepped down as CEO of Apple, sources say the idea came to him while he was at lunch at the Sundance Film Festival.

About six months ago, Jobs stepped down as Apple's CEO for an extended medical leave. He was "a pretty sick guy" during his absence, according to the source, but is now on the mend, and looks set to return to work.

Kind regards, Tina
The Hollywood Insider

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Why is Hollywood Turning Their Backs on Myspace and Youtube?