Murdoch’s incubator(s)

I’m impressed that Myspace’s Chris Dewolfe has started an incubator inside News Corp.

Murdoch and MySpace CEO Chris DeWolfe plan to be closely involved in the venture, which News Corp. has seeded with $15 million to hire roughly 40 employees, mostly software developers, say people with knowledge of the plans. The venture is being launched nearly a half-year after archrival Facebook announced a $10 million fund to invest in software companies that build applications for its social network. . . .

DeWolfe & Co. won’t get specific about what projects they’re incubating with SlingShot but say they’ll focus mostly on social networking, including software designed to work with Facebook’s site.

I only wish that they also started an incubator for news. How about an East Coast SlingShot at the Wall Street Journal?