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News Corp Dumps MySpace for Pennies on the Dollar

June 30, 2011

A day after Google went public with a tilt at Facebook, todays dominant social network, News Corp has found a buyer for MySpace, the ruling online hangout of yesteryear.

The selling price is said to be between $30 million and $40 million ” at best about 7 cents on the dollar News Corp paid six years ago.

Source:
http://www.wired.com/epicenter/2011/06/news-corp-dumps-myspace/

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