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

By Shawn Knight · 11 replies
Aug 12, 2011
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  1. 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…

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  2. Archean

    Archean TechSpot Paladin Posts: 5,690   +96

    Serves them right I'd say. In fact I think they should be broken up into several smaller organization (perhaps one for each country) to break this stupid 'monopolized' hold of newscorp on (nearly) everything.
  3. Trillionsin

    Trillionsin TS Evangelist Posts: 1,595   +257

    How do I my space?
  4. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,888   +1,223

    who's 'Them'? Newscorp doesn't have feelings. Or are you happy that half the Myspace staff got laid off?
  5. Couldn't have happened to a more deserving guy. To bad Rupert Murdoch's financial empire will survive selling my|_____| at a loss.
  6. Archean

    Archean TechSpot Paladin Posts: 5,690   +96

    I was referring to Murdoch & Co. and regarding MySpace workers, Myspace was pretty much doomed anyway, so the loss of jobs is an tragic eventuality.
  7. negroplasty

    negroplasty TS Guru Posts: 516   +12

    Good. Could only have been better if it bankrupted them.
  8. matrix86

    matrix86 TS Guru Posts: 843   +38

    This made me go back and check up on my old profile...I hadn't been there in almost 2 1/2 years. It's definitely changed a lot...looks even more like crap than it did 2 1/2 years ago, lol.
  9. spydercanopus

    spydercanopus TS Evangelist Posts: 855   +121

    Could have sworn they lost more than that.
  10. captaincranky

    captaincranky TechSpot Addict Posts: 12,971   +2,526

    Working for "Myspace" is actually considered having a job?
  11. Hasbean

    Hasbean TS Booster Posts: 112   +29

    Hey, little people! thanks for the refund...You lot have no idea.....A big money pit like MySpace is like printing money for my other tidy little earners...IRS refunds are fantastic! I can defer tax on shity losses from MySpace and cream it in for the next 20 years, before I bankcrupt it, leaving not a penny in MySpace to pay back the tax deferral. Nice little wease curtosy of Reagan and co.
    Yours Humbly
    Bob Murdock.
  12. petert

    petert TS Addict Posts: 217   +63

    It is the cycle of life. MySpace stepped in, brought some interesting ideas, took of then landed miserably. It will probably die sometime in the following 5 years. Facebook will meet the same doom. There is always a newcomer ready to replace an old dying.

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