Three Years Later, Buying MySpace Looks Like One Of Murdoch’s Smartest Bets
Posted on October 15th, 2008 by admin
Three years ago today, Rupert Murdoch bought MySpace and its parent company Intermix for $580 million. That turned out to be money well spent. The last time we ran the numbers, we figured that MySpace alone is worth between $3 billion and $20 billion , depending on how much you value each user. Fox Interactive Media (which is mostly MySpace) accounted for about $850 million in revenues last fiscal year (which ended in June), and is projected to hit $1 billion next year.
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Three Years Later, Buying MySpace Looks Like One Of Murdoch’s Smartest Bets
Filed under: technology
Tags: Business, enterprise