News Corp likely to shut down MySpace by June "unless we see remarkable turnaround," analyst says

tanya77:

News Corp. will most likely shutter MySpace by June “unless we see a remarkable turnaround in the next few months,” Alan Gould, an analyst with Evercore Partners, said in a research note to clients today before the restructuring was announced.

Fox Interactive Media, which includes MySpace, may lose $225 million this fiscal year, up from an estimated $180 million last year, Gould said. He reduced his estimate for News Corp.’s fiscal 2011 operating income by 5 percent because of MySpace’s losses and weaker film results.

Who’s going to welcome all those musicians and their home pages??

They should switch to Geocities. 

(Source: soupsoup)

1. la-crepe liked this
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   They always astonish me in how more abysmal they become every time they modify themselves.

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12. discoverandinnovate reblogged this from frakyeahsocialmedia
13. twitteringmad reblogged this from frakyeahsocialmedia and added:

    The end of Myspace is coming…. bye bye account I never use anymore… (Ah crap there are loads of pictures on their I need...

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17. kalimadevi reblogged this from startacult and added:

    Bye Bye Myspace.

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22. jtwilly reblogged this from frakyeahsocialmedia and added:

    Time to back up the ol’ myspace bolg! News Corp. will most likely shutter MySpace by June “unless we see a remarkable...

23. frakyeahsocialmedia reblogged this from soupsoup
24. jowanarizza reblogged this from soupsoup and added:

    Sorry, Tom Anderson…

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31. lastyearsfad reblogged this from ragdoll and added:

    Yeah, we actually had a band argument on Monday regarding our very very out of date website at Lawndree.com. Everyone...

32. meghanwithanh reblogged this from rubenfeld and added:

    This is crazy. Not that I ever use MySpace anymore but this is still pretty nuts.

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38. bsig reblogged this from shortformblog and added:

    Not very surprised. To be honest my first reaction was “It’s about time.” But then I thought what does that mean for...

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41. millertime83 reblogged this from tanya77 and added:

    They should switch to Geocities.

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44. linzylawless reblogged this from popculturebrain and added:

    Thats what happens when you don’t keep a site interesting enough for people to stay interested in. hence; i hope things...

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48. this-alien reblogged this from soupsoup and added:

    good…maybe some of my favorite will finally migrate to facebook, then

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