Myspace hitting on hard times?
Posted: 24/06/07
News this week that News Corp is looking to exhange ownership of MySpace for a 25% stake in Yahoo! leads me to believe that they know their onto a loser. MySpace requires massive levels of investment, and a complete overhaul of the API if it's going to compete with the front-end clout of Facebook.
News that Yahoo! was in talks with News Corp sent their shares down by 11%, so clearly the market knows what any such merger would mean to short/medium-term profits!
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