Three months ago, Rupert Murdoch said he wasn’t giving up on MySpace, and would “see it out for some time yet”. But now, News Corp’s president Chase Carey has come out saying that the MySpace cash haemorrhage is “neither acceptable or sustainable”. He also said that MySpace is a “problem”, and announced that the MySpace cash hole had grown by $30m to $156m, and that traffic had not picked up. All this is pretty darned negative, and leaves us wondering how bad the prognosis is: how long has MySpace got left? A year? Two years? Less?
[via Guardian]
