MySpace sold for a measly 35M

News Corp is selling MySpace to an advertising firm, Specific Media, for a measly $35 million USD – a fraction of the $585 million paid for it back in 2005. User activity has dropped significantly over the past few years, reducing the accounts to a mere 35 million. Approximately half of MySpace’s 500 workers will be laid off as a result of the purchase.

Source:
http://news.yahoo.com/news-corp-sells-myspace-35m-mostly-stock-185446844.html

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