Wednesday, January 12, 2011

MySpace - Sell Or Close Shop

Wave the white flag! A social network leader has risen and the competitor is about to be vanquished. So was the case for Bebo and now for MySpace. "MySpace is cutting 47 percent of its staff amid reports that owner News Corp. is preparing the social-networking website for a possible sale." Can this under performer be resurrected or is it really just the beginning of the end. Without a buyer, it is likely that the business will simply close down. For Fox, owners of MySpace, its purchase a few years ago, never deliver the intended results. Was it poor management, and inability to see the future, or just a better opponent in Facebook? Whatever the case, a sad ending to a once promising website.

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