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

Comments

[emlr]

11:26 AM on 06/15/2009

Just knowing Murdoch owns My Space is enough to make me cancel my membership.
I can't remember when I despised any one as much as I despise Murdoch. He has done so much damage to this country through his monopoly of the news.

[larry278]

08:09 PM on 06/14/2009

Do you mean that his Rupertship could lose money on My Space? That could prove the old saying, "Time wounds all heels.".