Today's sale of MySpace highlights the decline of the social media site that Facebook left in its dust.News Corp., which acquired the site several years ago for $580-million (U.S.), sold it today for about $35-million to Specific Media, an ad firm, reports say.MySpace was once wildly popular, but, according to The New York Times, advertisers abandoned it along with its users. Its revenues this year are expected to be just more than $180-million, well below its peak of $605-million.But everyone acknowledges that MySpace was a pioneering venture that brought many to social networking.

Who Voted for this Story



Comments


Log in to comment or register here.

Free, Fast & Easy: A new way to communicate benefits to employees

  We know that as a small business owner, you have your hands full. Aflac has made it easier for you to communicate …
Subscribe

Adam Connell @adamjayc Goes from Guitarist to Guru

Adam Connell's career didn't start out like most in the marketing field. Today, he's the operations manager for a U.K. … More
Editor's Picks

Have you tried BizSugar's new video posting feature?
It's time to up your game with video on BizSugar!
Did you know you can now post video on BizSugar?
Post your small business video to BizSugar today!