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Articles tagged with: news-corp

Myspace Up For Sale, 95% Less Than Its Original Value

The former social networking giant, Myspace, has been in trouble for a while now but it has finally hit rock bottom, with a sale expected to go down within the next few days. News Corp purchased the “then-popular” social media network in 2005 from Co-founder Tom Anderson.

The site was purchased for $580 million and is now speculated to sell between $20 and $30 million, making it a huge loss for News Corp. (not like it will put much of a ding to their overall revenue)

Time Warner Cable And Viacom Sue Each Other Over iPad Streaming?

Time Warner Cable and Viacom have filed lawsuits against each other over an iPad application that lets users stream live TV. Both companies have asked a New York judge to decide whether Time Warner is able to distribute channels on its cable network through the Apple tablet, instead of a television, without negotiating extra deals with cable networks. Time Warner pulled 11 channels from the application after complaints from parent companies. The channels that were removed include MTV, VH, Nickelodeon, and Comedy Central, as well as some News Corp channels. The companies claim that porting TV to a tablet is a violation of their programming contracts and are seeking to negotiate new contracts with Time Warner to stream shows for mobile devices.

Myspace Continues to Sink, Loses 10M Visitors in a Month

Myspace’s traffic has declined by 10 million unique visitors in just one month, according to recent data from comScore. This simply confirms to obvious fact of Myspace’s inevitable demise. Between January and February of this year, their traffic dropped by 14 percent, going from 73 million to 63 million visitors. Even more evidence for the death of Myspace: the site’s traffic is half of what it was a year ago.

Myspace’s unfortunate owner News Corp is trying to sell the company. They bought Myspace in 2005 for $580 million, however a lot has changed since ’05 and they are losing money on the site. At the beginning of this year, they laid off almost half of Myspace’s staff. There has been some interest from potential purchasers of the site, one of which is social gaming company Zynga.