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Once worth 12 bln USD, Myspace sold for 35 mln USD
06-30-2011, 02:03 PM #1
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
LOS ANGELES, June 29 (Xinhua) -- Once worth 12 billion U.S. dollars at its zenith, social networking website Myspace has been sold by News Corp. to an advertising firm for 35 million dollars.

Making the announcement on Wednesday, Specific Media, the buyer, said it plans to use Myspace's platform for social media advertising campaigns that let users share their favorite ads with friends.

The advertising company, based in Irvine near Los Angeles, was founded by brothers Tim, Chris and Russell Vanderhook in 1999.

News Corp., headed by Rupert Murdoch, had acquired Myspace for 580 million dollars in 2005. Poor management caused Myspace to lose 10 million users between January and February of this year, prompting News Corp to put the site up for sale in February

http://news.xinhuanet.com/english2010/sc...958961.htm
06-30-2011, 09:10 PM #2
yankees skier
Posts:5,898 Threads:215 Joined:Feb 2011
I guess the code was worth that much.

Biere.
06-30-2011, 10:04 PM #3
Octo Mother Superior
Posts:43,017 Threads:1,474 Joined:Feb 2011
Facebook is going the same way... 13.gif Soon there will be myspacebook that will rule and Zuckerberg will have to cry in his goblet at nights
07-04-2011, 03:59 PM #4
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Rupert Murdoch lost nearly his entire investment in MySpace the other day when he sold the failing social network to musician and actor Justin Timberlake and an ad agency he backs for some US$30 million. This was a good deal less than the US$500 million-plus Murdoch paid for it.

http://www.infowarhorse.com/rupert-murdo...ation.html

rofl.gif rofl.gif rofl.gif rofl.gif

07-08-2011, 07:15 AM #5
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
(07-04-2011, 03:59 PM)Shadow Wrote:  Rupert Murdoch lost nearly his entire investment in MySpace the other day when he sold the failing social network to musician and actor Justin Timberlake and an ad agency he backs for some US$30 million. This was a good deal less than the US$500 million-plus Murdoch paid for it.

http://www.infowarhorse.com/rupert-murdo...ation.html

rofl.gif rofl.gif rofl.gif rofl.gif
Murdoch seems to be losing money left and right lately nobody needs the amount of money he has/had anywayscheers.gif
07-08-2011, 10:27 AM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,396 Threads:1,439 Joined:Feb 2011
(07-08-2011, 07:15 AM)GhostHunter Wrote:  Murdoch seems to be losing money left and right lately nobody needs the amount of money he has/had anywayscheers.gif

sure seems like it 13.gif Some serious turbulence in the MSM control tower as of late hmm.gif

News of the World shut down in bid to end phone-hacking scandal

Britain's biggest-selling newspaper was shut down last night by the Murdoch family in a surprise move designed to bring an end to the phone hacking scandal engulfing the News of the World.

The 168-year-old newspaper will donate all this weekend’s revenues to good causes and would not accept any paid advertising, he said.

Rupert Murdoch and his family sacrificed the tabloid as they fought to salvage their company’s attempt to take over BSkyB, the satellite broadcaster, after the scandal resulted in growing political pressure for the Government to block the deal.

...someone's out to get him big time damned.gif

wonder.gif



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