Since Facebook supplanted MySpace as the “it” thing for all of those uppity kids playing tiddlywinks in my front yard as I shake my fist at them from my porch, the News Corp.-owned MySpace has only done one thing well: lose money. After last year, the News Corp. sector of which MySpace is a part lost $88 million. Reports on News Corp.’s profits this year showed that the same division lost almost double that this year, $150 million.
While MySpace’s financial woes spell trouble for the thousands of local and independent bands who use it in place of an official website, I can’t help but hope that it one day loses enough money to put News Corp., which includes Fox News as its crowning jewel, out of business.
• News Corp.: http://newscorpsucks.com
