News Corp. gives in to Facebook and MySpace

Three years ago, which causes great losses. Rupert Murdoch, the owner, had predicted would raise one billion dollars. Facebook destroyed.


News Corp. will no longer give more battle in the war of social networks. At least, it will not hand over MySpace. After six years of betting this social network and lose large sums of money for three, decided to put it on sale.
This was reported to the Associated Press, a source who is working in the operation.
The sale is accompanied by more bad news. Chances are that after the operation, firing more than half the 500 workers of the website.
It's goodbye to an active inelegant Internet once enjoyed great popularity and which Rupert Murdoch, chief executive of News Corp., predicted four years would generate about 1,000 million dollars in annual revenue. MySpace was never the goal.
The forecast for this year is that MySpace is less than one fifth of that figure due to a drop in advertising sales, according to research firm eMarketer.
MySpace's fall coincided with the emergence of Facebook, who was able to conquer the Internet users with a simpler interface, easy to operate and better integration of other services. While MySpace was associated with musical tastes, was slower than Facebook and full of advertising.
Although their future is not very encouraging, there are still at least three interested in the site: operator online advertising networks Specific Media, the investment fund Golden Gate Capital and Austin Ventures, an investment fund that works with co-founder Chris DeWolfe MySpace.
Although Murdoch has not yet chosen a buyer intends to set a resolution on Wednesday or Thursday to close its fiscal year with the sale.
The All Things D site, owned by News Corp., had reported that MySpace was about to be sold between 20 and 30 million dollars. The source of News Corp. said that the amount of the sale will be much higher and will include a mix of cash and stock.Murdoch bought the social network in $ 580 million in 2005.