This week MYSPACE has fired 47% of it’s staff (500 people) and rumors are News Corp. is preparing to sell the company. Here’s what CEO Mike Jones had to say about the possible end of an era:
“Today’s tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability,” Jones said in the statement. “These changes were purely driven by issues related to our legacy business, and in no way reflect the performance of the new product.”
After the restructuring, MySpace will be put up for sale, All Things D, a website owned by New York-based News Corp., reported yesterday. The business will be offered to private equity firms and possibly to Yahoo! Inc., the website said.
In a few more years Facebook will be gone as well mark my words.
-AL
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