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Rupert Murdoch On MySpace: 'We Screwed Up'

First Posted: 01/13/12 08:37 AM ET Updated: 01/13/12 02:49 PM ET

Rupert Murdoch is not a man who likes admitting failure, but the media mogul admitted to a pretty big mistake on Thursday.

Using his Twitter feed, Murdoch addressed News Corp.'s ill-fated purchase of MySpace, the social networking site that he bought for $580 million and sold just six years later for $35 million. Murdoch didn't mince words, either:

Rupert Murdoch
Many questions and jokes about My Space.simple answer - we screwed up in every way possible, learned lots of valuable expensive lessons.

Can we expect a similarly blunt assessment of the phone hacking scandal? We'll just have to wait and see.

Also on HuffPost:

Some of Murdoch's first tweets:

Filed by Jack Mirkinson  |  Report Corrections