HardwareLook

• Author: Adam
• Published: Jan 16, 2012

Rupert Murdoch Killed MySpace with A 94% Loss

Friday saw Chairman and Chief of News Corporation, Rupert Murdoch recently admitted to killing MySpace via Twitter. Murdoch stated that : "we screwed up in every possible way.”

He added that News Corp walked away from the destruction “having learned lots of valuable expensive lessons."

Expensive is about right as News Corp originally purchased MySpace back in 2005 for $580 million as it was growing in popularity, of course this was before the uncontrollable wild fire of Facebook was created. Through that reason they lost a huge portion of the market to Zuckerberg and Co. Murdoch had no choice but to cut his losses and sell MySpace, but unfortunately he received only $35 million for it last year, taking a 94-percent loss.

Literally paid the price

We know Murdoch joined Twitter at the beginning of the year, but this is the first time he has let up about MySpace via the social status network. Rupert has mostly stuck to his interests such as the LAS Vegas show CES currently in play.

"Big three, Apple, Google and Amazon, and maybe Facebook dominant now and growing," he recently tweeted, referring CES 2012.

Rupert continues to tweet and seems to be impressed which some gadgets more so than others:

"Plenty of others good, but not in same league."

"some great, all disruptive."