Murdoch’s News Corp. sells MySpace for one-sixteenth of what it paid for it six years ago

Well, here’s some shrewd business management: News Corp. has sold struggling social networking site MySpace for $35 million, according to a person familiar with the matter. The deal values MySpace at a fraction of what News Corp. paid for the site six years ago. ~SNIP~ News Corp. bought MySpace for $580 million in 2005, but users and advertisers have fled […]

Read more ›