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Facebook could go the way of ‘crappy’ MySpace: Murdoch
MUMBAI: Rupert Murdoch whose company News Corp suffered a big loss after having to sell ‘crappy‘ MySpace for less than a tenth of the price it was bought at has warned that Facebook could suffer a similar fate.
On the occasion of the one-year anniversary of Facebook‘s IPO Murdoch took to Twitter and wrote, “Look out Facebook! Hours spent participating per member dropping seriously. First really bad sign as seen by crappy MySpace years ago.”
It may be recalled that News Corp bought MySpace for $580 million way back in 2005. Some people at the time felt that the price was a steal. Rival media company Viacom had also been eyeing MySpace and was furious at losing out.
But MySpace lost the opportunity to build itself and Facebook came in 2007 and blew everything in its path away. News Corp sold MySpace for a mere $35 million two years ago.
