Time Is Ticking for MySpace
According to News Corp.‘s digital media guru Jim Miller, the company has set a 2-week deadline to determine the fate of its black sheep online media property MySpace. The LA-based social networking site lost $165 million for News Corp. in the most recent quarter ending in March. That’s $15 million more than MySpace lost for the company this time last year.
News Corp. has been shopping the site around for some time–supposedly trying to get $100 million for it after paying $580 million back in 2005.
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