MySpace sold for a fraction of its purchase price

June 30, 2011 11:06

Rupert Murdoch's News Corp, which bought the social networking site MySpace for $580m, has now sold it for a fraction of its purchase price.

An internet superstar before it was blindsided by Facebook, MySpace has now been bought by Specific Media.

The financials have not been made public, but industry sources believe that the offer price was not very flattering for News Corp. $35 million is among the figures that are being bandied about but there has been no confirmation of it so far.

Another crucial question is of the staff, of which too there has been no clarity so far.

« Back to LIVE

TOP STORIES

CSK need their batters to fire in key game vs Royals

In need of a victory to firm-up their position in the IPL play-offs race, Chennai Super Kings have the heavy task of nullifying a deeply hurt and frustrated Rajasthan Royals in Chennai on Sunday.

Cong leader clarifies 'Rs 2 lakh for two wives' remark

Former Union minister and Congress' Lok Sabha candidate from Ratlam in Madhya Pradesh, Kantilal Bhuria, who has courted a controversy with his 'two wives' remark, has clarified that he passed the comment sarcastically in response to a...

Prajwal Revanna sex videos: BJP leader held, taken for questioning

Several explicit videos involving Prajwal started making the rounds ahead of the first phase of Lok Sabha elections in Karnataka, which took place on April 26.

Miller's Brilliance Caught Rahane Short

David Miller's outstanding fielding effort earned Gujarat Titans an early wicket.

RCB eyeing crucial points against DC to stay alive

Pushed into a tight corner, Royal Challengers Bengaluru rose above their frailties to notch four wins on the trot and stay alive in the race to play-offs. However, a volatile Delhi Capitals offer them a different challenge in their...