News Corp. Funds Startup Incubator

SlingShot Labs, a new startup incubator headed by MySpace execs Josh Berman and Colin Digiaro, has reportedly received $15M in funding from MySpace parent News Corp. According to a report in BusinessWeek, the new Santa Monica-based incubator will also include heavy involvement by MySpace CEO Chris DeWolfe. SlingShot Labs is reportedly looking to hire about 40 developers and other employees.