MySpace has a very limited amount of time to revive its operation, News Corp. said during a recent call with analysts.
"We've been clear that MySpace is a problem," News Corp. President and COO Chase Carey said yesterday during the call, according to AFP. "The current losses are not acceptable or sustainable. Our current management did not create these losses but they know we have to address them."
When News Corp. acquired MySpace in 2005 for $580 million, it thought it had a winner on its hands. After all, MySpace was the place to go … Read more