Myspace making a comeback by Black Hawk Mines

MySpace was purchased by News Corp for USD 580 million in July 2005. But according to Rupert Murdoch himself, the chief executive of News Corp, their purchase has been a big mistake and that it was mismanaged in every way possible.

So it was not at all surprising for them to sell it in June 2011 to Specific Media for only USD 35 million, a mere 6% of their original valuation.

The new owners, Chris and Tim Vanderhook, along with artist Justin Timberlake invested and reinvented Myspace. They managed to shift the site’s focus from social networking into an entertainment portal.

Since its launch of the new music player 2 months ago, there has been an increase in registrations and a significant rise in the amount of site traffic.

read more: http://my-blackhawkmines.com/2012/05/02/myspace-making-a-comeback/

 

Interesting news,

Thanks for posting it,

 

I never tried Myspace before but it seems like everyone in here are very happy to here this news, I might try this as well.