Myspace Sold for a Song - 0 views
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Marlena Barber on 01 Jul 11News Corp bought Myspace for $580 million only 6 years ago. They turned around and sold it to another company for $35 million, Specific Media. Justin Timberlake, who also now owns part of Myspace, is part of an attempted revitalization of the networking site. Another interesting note from the article--News Corp offered Myspace back to Tom and he turned them down. -
Cynthia Tavlin on 03 Jul 11Makes you wonder about the social media bubble or was it strategic errors when NewsCorp purchased MySpace and they concentrated less on the technology and more on generating revenue which didn't work out too well. They went from something like 70 % share of social media to 1/3 in about two years. At least SM didn't overpay.