[LINK] Doing the math on News Corp.'s disastrous MySpace years

[Kim Holburn]

http://arstechnica.com/tech-policy/news/2011/06/doing-the-math-on-news-corps-disastrous-myspace-years.ars

> So all things considered, MySpace has cost Murdoch's empire something like $1.3 billion. Even if my assumptions are way off, the final cost can't be less than $1 billion. That fiasco isn't putting Murdoch out of business: News Corp turned a $2.9 billion dollar profit in the last four quarters and generated $2.2 billion in free cash flow, for example. But it still stings as Murdoch's dreams of an end-to-end interactive media empire falls apart. And his shareholders have been trailing the broader market as well as rivals Viacom and Disney over those five painful years.
> 
> And now hated rival Facebook is getting ready to hit the stock market with a valuation perhaps topping $100 billion. That's hardly a camera finish in the race to dominate social networking.



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Kim Holburn
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