07/13/2009 05:12 am ET | Updated May 29, 2013

MySpace Has Been a "Calamity for News Corp" --Michael Wolff

Michael Wolff, who has written a much talked about book about Rupert Murdoch and the rise of News Corp, sees MySpace in a downward spiral.

In this interview with Beet.TV, he calls the social media site a "relative calamity for News Corp."
He says that giant media company "knows nothing about technology."

I caught up with Michael yesterday at the Advertising 2.0 conference after his keynote dialogue with Andy Lack, head of multimedia for Bloomberg.

On stage, he said the valuation of MySpace would be somewhere around $600 million, about the purchase price. He didn't give this valuation in the interview.

You can find the entire post up on Beet.TV