June 30, 2011 by staff
MySpace Sale, Of the more than half a billion in 2005 money was used to snatch the social networking site after MySpace hotshot, owned by Rupert Murdoch’s News Corp. has decided to get rid of the web page of your portfolio and sell the company to the media specific to the advertising company and a measly 35 million dollars.
The sale was uneven, and gradually loses its MySpace dominance in the lucrative market of media, now ruled by Facebook.
Reuters said on Thursday that the agreement involves the pop star Justin Timberlake, who once played one of the founding executives of Facebook “The Social Network ‘of the Oscar nominated film.
In a statement, News Corp, said specific media effectively win a majority on MySpace under the agreement, while keep a minority stake of up to five percent, according to an unnamed source quoted by Reuters.
Reports indicate that Timberlake will play a key role in developing marketing strategies of the website once popular, but the percentage of ownership to the company is not clear at present.
Today, News Corp has a workforce of 500 men to run the whole social networking andanlysts said that all staff are likely to be handed his walking papers once the deal has been completed.
MySpace was created a year before by Chris De Wolfe Facebook and Tom Anderson in August 2003, according to Reuters was originally intended by their owners to facilitate easy connection to friends and fans with their favorite celebrities.
Finally, the site reached the then popular competitors Multiply.com and Friendster and social membership reached about 80 million people in the United States, which experts say overwhelmed the company to continue the pace of its exponential growth.
As Facebook has accelerated its campaign to attract more users by enabling the deployment of third party applications on its website, as the great success Farmville, which engaged millions more to your site, MySpace members was cut in half 2011, and the users interest waned.
In the same year, Reuters said that MySpace posted a quarterly operating loss to 165 millionanlysts projected steady decline of the site preparing for possible purchase of News Corp download tracks of an asset once it has been promising quickly become a liability.
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