We've all now read about MySpace owner News Corp is planning to turn their struggling social network site into an online games portal in an effort to win back users from competitors like Facebook.

The suggestion that Facebook is looking more and more like the victor over MySpace in the battle of social network sites, may be premature. While Facebook has done a terrific job expanding their user base, they now have to figure out how to monetize the user base that is not growing as quickly due to market saturation. On the other hand, while MySpace has not seen the growth Facebook has, they do have one thing going in their favor, their parent company is News Corp (20th Century Fox) who control one of the largest content libraries on the planet. As we've seen in other media outlets, content will draw unique visitors to the site and once there, the content can be monetized as it has across other platforms. News COrp is uniquely positioned to continue its dominance as a content distributor, all they need to do is create compelling experiences and games for people to play.

New Corp has already suggested they are looking to shift the focus of the site toward a more lucrative arena: games.

"MySpace is and will be more in the future a gaming platform, a space for people to meet and play games," News Corp's Jonathan Miller said at the Fortune Brainstorm: Tech conference. "If you look at the big activities online, games right now is number three. So it's clearly going to be a major focus."

While this could be just as much of an uphill battle for MySpace as trying to compete with Facebook in terms of plain old social networking features. The former underdog turned top dog has offered games for some time now, many of them offering some kind of social bent connecting users. Facebook has even attracted major games industry companies, with Ubisoft launching a games portal on the site just last week.

They will not be able to accomplish this alone and will have to bring to bear all their creative energy and content to the table to succeed. But with content such as Family Guy, Simpsons and their Blue Sky franchises to draw from, they upside is limitless.

Nevertheless, Miller believes that his company is ahead of the curve, at least when it comes to the bigger picture. "None of the traditional media conglomerates are also significant video game players, so to speak, and I think that that's the missing piece of the equation, particularly when you see how much time is spent playing games online," he said. "You must focus, and in our case we are focusing on music, games, video, things like that."

Miller added that News Corp is considering making acquisitions related to games. Fox has a history in gaming and if they can make the right decisions going forward there is no telling how successful this initiative might be.

But as we have learned from our past experiences, content is king once a new platform has reached a mass market audience, the online space should be no different then our form of distribution.