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MySpace Costs News Corp. $275 Million In Just Three Months

Posted in : News

(added last year!)

MySpace is still up for sale, and News Corp. is claiming a lot of interest - which is probably a good thing, considering the site has cost the company $275 million in the last three months of 2010 alone. MySpace was responsible for dragging losses for News Corp's Digital Media Group from $31 million to $156 million in the same time period - the other two parts of the group, Fox Mobile and Digital's outdoor business, grew in success during the same period - making it no surprise that News Corp. is continuing to look for some way of easing the strain the site brings. News Corp. COO Chase Carey told analysts,

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(added last year!) / 162 views