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News Corp. lost a quarter of a billion dollars on Myspace

News Corp. lost a quarter of a billion dollars on Myspace
  • Posted August 12, 2011, 12:30 PM by Shawn Knight | Filed in The Web
  • In a recent News Corp. conference call discussing the company’s fiscal fourth quarter earnings, it was disclosed that the media conglomerate had lost $254 million on the purchase and subsequent sale of social networking site Myspace.

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