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ECT News Community   »   E-Commerce Times Talkback   »   Re: MySpace Up for Grabs

Re: MySpace Up for Grabs
Posted by: Rob Spiegel 2011-01-16 02:27:24
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MySpace CEO Mike Jones reportedly told employees on Wednesday that News Corp., parent company of the once-giant social network, was exploring strategic options for its possible spinout, sale or merger. The talk of a possible sale followed news that MySpace was laying off 47 percent of its workforce -- about 500 employees. Rumors about the troubled company have been circulating for some time. Last fall, MySpace released a new layout, part of a new plan to focus on music pages and entertainment while leaving social networking to the big dog, Facebook.

MySpace and News Corp Failures
Posted by: irtandassociates 2011-01-19 10:19:19 In reply to: Rob Spiegel
MySpace Was Provided An Opportunity To Over Take Facebook

Of course Chase Carey was given the opportunity to initiate a plan that would have generated net earnings of over one billion dollars for MySpace by the third year, and between 400 and 600 million dollars in net earnings over and above current net earnings in the first year (of which there are currently none) generated by MySpace.

Carey ignored the opportunity which reflects News Corp's Policy of; "No One Knows More Than Us About Anything."

Representatives at News Corp attempted to obtain details of the plan on a verbal basis without a written agreement in place. When that was suggested, News Corp was advised that their past practices were well known and that they would not be provided details without a written agreement in place. Carey is believed to have ordered discussions to be discontinued.

This while current MySpace users have rebelled against the new MySpace Chase Carey and Jonathan Miller led the development of.

This is what happens when people that do not understand what a Social Network is believe that they know everything when they know less than nothing.

I guess when it is Rupert Murdoch’s money Carey and Miller are playing with they have no concerns as to whether or not it is thrown away. Maybe they should get their resumes in the mail if Murdoch gets wind of how much their arrogance has cost him.
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