ninakkida
13-01-2011, 16:54
The restructuring will hit about 500 employees.
In the three months to the end of September MySpace lost £100million despite re-focusing on music, videos and celebrity gossip.
Once the top social networking website, MySpace has been eclipsed by Facebook, which earned £228million on revenue of £768million in the first nine months of 2010.
Rupert Murdoch’s News Corp bought MySpace for £370million in 2005.
MySpace's UK operation will be taken over by Fox Networks, but MySpace claims to aim to: 'retain a core dedicated international team to work with partners in order to ensure users, content partners and advertisers continue to be served'.
by metro
In the three months to the end of September MySpace lost £100million despite re-focusing on music, videos and celebrity gossip.
Once the top social networking website, MySpace has been eclipsed by Facebook, which earned £228million on revenue of £768million in the first nine months of 2010.
Rupert Murdoch’s News Corp bought MySpace for £370million in 2005.
MySpace's UK operation will be taken over by Fox Networks, but MySpace claims to aim to: 'retain a core dedicated international team to work with partners in order to ensure users, content partners and advertisers continue to be served'.
by metro