{"id":84329,"date":"2017-07-06T20:00:00","date_gmt":"2017-07-06T09:00:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/news-corp-abandoning-myspace-2\/"},"modified":"2017-07-06T20:00:00","modified_gmt":"2017-07-06T09:00:00","slug":"news-corp-abandoning-myspace-2","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/2017\/07\/06\/news-corp-abandoning-myspace-2\/","title":{"rendered":"News Corp Abandoning MySpace"},"content":{"rendered":"<p>News Corp is now seriously considering selling off MySpace which has been draining the company of millions in losses since its $580 million acquisition in 2005.<\/p>\n<p>A spokesperson for Myspace said that &#8220;News Corp is assessing a number of possibilities including a sale, a merger, and a spinout,&#8221; in an interview with Bloomberg.<\/p>\n<p>News Corp president Chase Carey said that losses of $156 million from MySpace in the last quarter of 2010 were &#8220;neither acceptable or sustainable.&#8221;<\/p>\n<p>The news comes a day after MySpace sacked half of its staff, around the 500 employee mark, in a massive overhaul of operations. <\/p>\n<p>The overhaul has included a change of direction from the once social networking site toward entertainment to compete with other social platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News Corp is now seriously considering selling off MySpace which has been draining the company of millions in losses since its $580 million acquisition in 2005.<\/p>\n","protected":false},"author":57,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,27],"tags":[],"class_list":["post-84329","post","type-post","status-publish","format-gallery","hentry","category-archive","category-internet","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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