Feeds

MySpace quivers under News Corp axe

Social network site to be offed?

High performance access to file storage

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. ®

SANS - Survey on application security programs

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.