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Friday, 12 August 2011 12:36

Murdoch lost quarter of a billion on Myspace

Written by Nick Farell


Not a good year for Rupert
Rupert Murdoch might be happy that he has finally dumped the social notworking site Myspace on gyrating popular beat combo artist Justin Timberlake but it is finally getting revealed how much the outfit cost him.

News Corp has admitted in its  fiscal fourth quarter earnings report, that it lost $254 million on the sale of MySpace to Specific Media on June 29. This loss pushed net income for the company down by 22 percent. Murdoch bought MySpace in 2005 for $580 million.

The problem was that MySpace members defected to Facebook in droves and management at MySpace attempted to revamp the social network in 2010, but traffic continued to fall Murdoch tried to flog the social network up for sale in early 2011 but could not find someone who wanted to pay $100 million for it.

Timberlake,and Specific Media picked up the site for  $35 million.

Nick Farell

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Comments  

 
-6 #1 dan-amdFAGBOY 2011-08-12 13:11
Maybe he invested in amd dungs bulllldozer,so he got benches and decided that he better lose his $ on some ..Space rather than be connected to amd dung bunch :D
 
 
+3 #2 Haberlandt 2011-08-12 16:40
Quoting dan-amdFAGBOY:
Maybe he invested in amd dungs bulllldozer,so he got benches and decided that he better lose his $ on some ..Space rather than be connected to amd dung bunch :D
Someone's butthurt.
 
 
+5 #3 The_Countess 2011-08-12 17:20
he's a right wing shill who's whole business thrives on the misinformation of the public.
i hope this is just the start of his downfall... but I'm not to hopeful.
 
 
+1 #4 The_Countess 2011-08-12 17:20
Quoting dan-amdFAGBOY:
Maybe he invested in amd dungs bulllldozer,so he got benches and decided that he better lose his $ on some ..Space rather than be connected to amd dung bunch :D


intel fanboys are the best!
 
 
0 #5 Kryojenix 2011-08-14 01:48
Quoting The_Countess:
but I'm not to hopeful.
..."too" (not "to")
 
 
0 #6 deadspeedv 2011-08-14 16:31
Surprised he didnt use his powers to change public opinion of facebook like he did with Thatcher.
 
 
0 #7 jangoole 2011-08-15 05:11
The size and number of clip in hair extentions each weft can vary from one brand of hair highlights for dark brown hair to the next. Find the weft that best fits across the span of this part of your head.Open the clips on this weft and position them on your hair, so the tops of the dark brown hair with blonde highlights rest against the part showing between the loose and clip on hair. 10
 

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