News Corp. Expects MySpace to Lose $165M in Fiscal Year 2011

Viva_La_Revolution

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Tue Apr-12-11 09:12 PM
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News Corp. Expects MySpace to Lose $165M in Fiscal Year 2011

Source: THR

That would be a significant drop from the $900 million in revenue the social media site earned in 2008.

As News Corp. mulls more layoffs at MySpace amid sale rumors, now comes word that the social media site is expected to lose $165 million for fiscal year 2011, which ends June 30.

TechCrunch says it has obtained a copy of "the confidential MySpace pitch book" that News Corp. has handed out to potential buyers.

In the document, News Corp. says revenue is expected to total $109 million, while expenses are projected at $274 million.

Read more: http://www.hollywoodreporter.com/news/news-corp-expects-myspace-lose-177513

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alp227

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Tue Apr-12-11 09:24 PM
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1. i dumped myspace 2 years ago but still use it to listen to music sometimes

now i can't wait for fox news to start losing money

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tsuki

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Tue Apr-12-11 09:33 PM
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2. Chickenfeed. Wait til NoW start settling more wiretapping cases in

the UK. One story I keep up with hoping for a happy ending.

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Snoutport

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Tue Apr-12-11 10:26 PM
Response to Reply #2

3. Me Too!! I check the UK papers every day!

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tsuki

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Wed Apr-13-11 02:50 PM
Response to Reply #3

4. I know, You post, and I go yeah, yeah, yeah, and....:)

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