Murdoch: No on Twitter, Yes on MySpace
News Corp. is not interested in buying popular microblogging site Twitter and will not sell its struggling social network MySpace, said the media conglomerate’s chief executive, Rupert Murdoch.
Murdoch, who arrived on Wednesday at the Allen & Co investment bank’s Sun Valley media and technology conference, said Twitter would be a tough investment to justify because it has not yet come up with a sustainable way to make money.
“Be careful of investing here,” he said of Twitter.
Speculation is running rampant at the 27th Sun Valley conference over which company might want to buy Twitter.
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