UPDATED 17:31 EST / AUGUST 23 2010

Twitter Steals News Corp. Executive to Head Up Revenues

Twitter’s latest move towards building up its business–the company has reportedly poached Adam Bain from News Corp., bringing him on to head up the revenue for Twitter. Reporting directly to COO Dick Costolo, Bain’s role as President, Revenue will involve working closely with the development of Twitter’s ad network. From TechCrunch,

“Bain’s organization has been a bright spot in an otherwise dismal group of digital products at News Corp. The company’s self service ads are generating hundreds of millions of dollars annually, we’ve heard. And until very recently there were plans to spin the entire unit out of News Corp. into a separate company. Silverlake Partners and others bid to fund the new entity, but the deal never happened, say our sources.”

Tie timing for Bain’s company shift is noteworthy on both ends, with Fox and MySpace undergoing their own executive changes. Twitter, of course, is making fast moves to generate some revenue around its microblogging service, particularly within an ad network model.

Twitter has been rounding out its ad network-related staff, amongst a myriad of other improvements to its service. The Twitter platform is also an important component moving forward, with updates like geo-tagged updates and the official Tweet button making it easier to facilitate marketing campaigns for brands, publishers and developers.

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