Feeds

MySpace quivers under News Corp axe

Social network site to be offed?

The Essential Guide to IT Transformation

MySpace is continuing to limp along on the interwebs and the once hugely popular social network even gave itself a makeover last week. But News Corp, which owns the firm, could pull the plug on the entire operation within the year.

As reported by another News Corp tentacle – All Things Digital – yesterday, Rupert Murdoch’s company could soon be calling in the axe man.

During a conference call about News Corp’s first quarter earnings, the firm’s COO Chase Carey offered the following sombre comments about MySpace.

“We’ve been clear that MySpace has been a problem,” he said. Despite that the News Corp management still “feel really good about” the site’s recent relaunch.

Carey then went on to admit: “Current losses are not acceptable or sustainable… But we know that we have to work very hard in [the] coming months to get this thing sustainable.”

News Corp isn’t giving MySpace much breathing space to improve, following the interface overhaul, either.

“We judge [the success or failure of the relaunch] in quarters, not in years. [The] goal is to get to a place where top-line revenue is going in the right direction and [there’s] a clear path to profitability.”

Traffic numbers for MySpace, which saw revenue plummet $70m compared to sales in the same quarter a year earlier, need to be better or else the website could be readied for the knacker’s yard sooner than some might have expected.

Or else, as noted by ATD, which cites an insider, the unloved service could be sold off to a buyer – if one can be found. ®

HP ProLiant Gen8: Integrated lifecycle automation

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.