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Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 1:53:11 PM   
Owner59


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Status: offline 		Over a billion, up to as much as 6.4 billion in lost money and revenues.

http://arstechnica.com/tech-policy/news/2011/06/doing-the-math-on-news-corps-disastrous-myspace-years.ars

Doing the math


So what's the real damage to News Corp. from this botched online venture? Just subtracting the sale price from the original price tag and calling it a $545 million short-sale doesn't do it justice, because then you're ignoring the puts and takes of running the darn business. In fact, the whole process of figuring out the numbers is tricky because News Corp. and MySpace never talked about them. That's hardly unusual, as we still don't really know what kind of business YouTube pulls in for Google, for example, but it's annoying when you're trying to figure things out. So there's some guesswork involved.

Let's start by figuring out the initial situation. Intermix Media, the original parent of MySpace, made a net profit of $1.5 million in the twelve months leading up to the News deal. $37 million of its $88.9 million in total revenue came from the Network division, chiefly home to MySpace. The rest fell in from direct and online marketing of high-margin merchandise such as beauty products and inkjet cartridges. The e-commerce stuff quickly disappeared in the vast News machine, and I think it's fair to write it off as a discontinued operation from the start. The old Alena brand was mentioned in the exhaustive list of subsidiaries in the 10-K filing of 2006, but was gone the next year.

In 2006, the company happily highlighted that MySpace averaged 29 billion monthly page views in the US alone, boasting over 90 million registered users. But News never bothered to break out MySpace results, or even the larger Fox Interactive Meda operation of which it was a part, from the "Other" segment in its financial reports.

But traffic doubled in the first year, and MySpace was, as already discussed, mildly profitable at first. So let's say that sales in 2006 landed at about $70 million with a breakeven bottom line. From there, News Corp COO Chase Carey said that the bulk of that Other segment consisted of MySpace in 2010. By then, the division accounted for $1,5 billion in annual sales and a $575 million operating loss. (Ouch.) "Other" sales peaked in 2008, and never saw a profitable fiscal year in the MySpace era.

So if we start with about $70 million of MySpace revenue in 2006 and guess that "the bulk" might translate into something like 75 percent of the Other division, we can construct an overly simplistic yet instructive model of how it all worked out.




http://www.huffingtonpost.com/2009/02/05/news-corp-suffers-stagger_n_164463.html


http://gigaom.com/2010/11/02/news-corp-paywall/


Couldn`t happen to a nicer guy.



< Message edited by Owner59 -- 7/5/2011 1:54:09 PM >

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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 3:42:43 PM   
flcouple2009


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Status: offline 		And I should care how much News Corp may or may not have lost on myspace because????????????

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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 3:43:50 PM   
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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 3:46:01 PM   
Lucylastic


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Status: offline 		I think its a nice little come uppance for the guy, I have to say its greed getting the better of himself and ruining something that was doing ok
I have a feeling his pay for news portal will be next

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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 4:06:00 PM   
Aneirin


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Status: offline 		Who the fuck uses MySpace now ?

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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 4:08:58 PM   
Lucylastic


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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 4:12:04 PM   
Aneirin


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Status: offline 		I did also a few years back, my profile is still there, but about six months back I logged in to see what was happening, and it was as if the brush weeds had taken over.

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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 4:47:38 PM   
willbeurdaddy


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Status: offline 		NewCorps bought MySpace for $580 million and sold for $35 million, so to attribute anything more than $555 to whatever NewsCorps losses are is wrong. The quoted losses were a write down in value of assets, so it doesnt include any operating losses during the period, and Facebook didnt pass MySpace until sometime in 2008.

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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 5:10:16 PM   
SternSkipper


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quote:

And I should care how much News Corp may or may not have lost on myspace because????????????


Well I won't speak for you personally, cause it's my take you know the obvious facts. But some people could benefit from knowing that one of the chief propagandists worldwide of the "lay back and let the Corporations run set policy genre is increasingly showing up as making piss poor decisions (or rather delegating them).



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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 5:26:40 PM   
SternSkipper


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quote:

So what's the real damage to News Corp. from this botched online venture? Just subtracting the sale price from the original price tag and calling it a $545 million short-sale doesn't do it justice, because then you're ignoring the puts and takes of running the darn business.


Hopefully he saved all those slut and tit flashing pages so he can at least spank it a couple of times for his troubles.
How about a little road music?

"Discoboy
Just one more chance tocomb your hair again
They're closin the bar AND SHE'S LEAVIN WITH YOUR FRIEND
So wipe your nose and try again
To get a little pussy tomorrow
Disco Boy,
No one understands,
But thank THE LORD
That you still got hands
To help you do that jerkin' that'll
Blot out yer Disco Sorrow!"




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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 5:31:30 PM   
DarkSteven


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Status: offline 		Agreed.  I had a myspace profile.  Four or five years ago, it seemed like everyone had a profile there.  And now, the site looks abandoned.  It's jarring and noisy, and there's no sense of fun - just attempts to get me to click on links for stuff.

The linked HuffPo article raises some questions.

1. It states that News Corp cut 800 positions to save $400 mil/year.  That's $500K/per position.  Something's way wrong with that figure unless darn near every single position is executive management.

2. How can you combine backroom operations of Australian and US newspapers?

3. Ad revenue dropped despite heavy spending on political ads.  So there's another blow expected at the end of 2012 when the political advertising dries up.

4. Not mentioned in the article is Murdoch's attempt to charge fees to access the online Times and WSJ websites.  I expected that that would be a nonstarter.


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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 6:51:32 PM   
SternSkipper


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quote:

1. It states that News Corp cut 800 positions to save $400 mil/year. That's $500K/per position. Something's way wrong with that figure unless darn near every single position is executive management.


Well, if there were multiple facilities/locations they could have entirely closed a site and they may have saved that over time. Murdoch has lots of real estate assets, so they may have cut staff closed the doors of the corp headquarters and moved them into an existing facility.
Not that I know specifics, but when I worked @ big blue, we did that all the time to smaller companies for that very reason. In cases like that of course, the savings isn't immediate, it's over a period of time.



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RE: Loser Rupert Loses Billions over Myspace fuck-up. - 7/5/2011 7:12:05 PM   
Owner59


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quote:

ORIGINAL: flcouple2009

And I should care how much News Corp may or may not have lost on myspace because????????????


It`s fun to see an asshole get fucked?

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Oh the Lizard of Oz has other troubles now. - 7/5/2011 7:44:39 PM   
FirstQuaker


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Status: offline 		Myspace is the least of Murdoch's troubles right now - http://www.telegraph.co.uk/news/uknews/crime/8617707/Milly-Dowler-phone-hacking-live.html

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8619377/Phone-hackers-snooped-on-Soham-families.html

http://www.telegraph.co.uk/news/uknews/crime/8619250/News-of-the-World-spied-on-detective-during-murder-inquiry.html

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8619373/News-of-the-World-bereaved-relatives-of-77-victims-had-phones-hacked.html

And there are boycotts planned and many advertisers are pulling their ads from his media too - http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8619123/News-of-the-World-loses-adverts-over-Milly-Dowler-scandal.html

I quit listening to anything he or his mouthpieces had to say years ago, after hearing his amnesty for illegal immigrant plans, and finding out he was the media driver for Oz's current gun control laws.

I see even Glen Beck has bailed on him.

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RE: Oh the Lizard of Oz has other troubles now. - 7/5/2011 7:47:32 PM   
Owner59


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Status: offline 		His links with and enabling of the Chinese communists, is my biggest issue with murdock.

The silence from those freedom loving fox viewers is deafening.




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RE: Oh the Lizard of Oz has other troubles now. - 7/5/2011 7:59:11 PM   
FirstQuaker


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Status: offline 		Yeah, that too. Along with his Saudi ties, good buddyship with the likes of Bloomberg and Soros. And his subservient relationships with the big mining and energy corporations

But if the average Fox viewer knew just what all causes he funded they would be boycotting everything in the United States he has too.

Murdoch appears as an utterly amoral  reptile if you go digging into his conduct, regardless of where on the political spectrum you are.

Anyway the British public are utterly infuriated about this latest batch of Murdoch handiwork and Parliament is holding an emergency debate for several hours tomorrow starting at 12:30 their time.

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RE: Oh the Lizard of Oz has other troubles now. - 7/5/2011 8:11:48 PM   
Owner59


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Status: offline 		Cons love the guy tho.

He funds their propaganda machine.

Cons would suck off satan, if he would fund them.



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RE: Oh the Lizard of Oz has other troubles now. - 7/5/2011 8:49:32 PM   
FirstQuaker


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Status: offline 		"Cons love the guy tho.

He funds their propaganda machine.

Cons would suck off satan, if he would fund them. "


If you say so.

However even places like Breit Bart are calling him on some of  his conduct. - http://www.breitbart.com/article.php?id=D9GHKFS80

But that is one of those blanket statements like saying "All libs love George Soros" that make those saying it look absurd.

I try and think and look outside the partisan window. Remember Murdoch has also funded Micheal Moore, and his films, gun control, and amnesty for illegal's so does that mean "libs" love the man, and enjoy sucking his cashy money?

The corporate democrats have no problem with him, he keeps the lumpen occupied and out of any real trouble.

Normal people would think he is a bit two faced.

Having looked into him, he is nothing but a globalistic corporate shill and the major corporate media  player, a prime example of what the NWO and Bilderberg  folks think they are talking about, and in reality Mammon is whom he serves.

His empire, built on foundations of trash, is now having them disintegrate. He however has played his role of sowing discord and political chaos, and now will retire to the life of the landed gentry.

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RE: Oh the Lizard of Oz has other troubles now. - 7/5/2011 8:58:43 PM   
Owner59


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Status: offline 		bratfart throws bits of his own poop out like that, to "appear" fair.He`s as low as they come.

Scapgoating and blaming Soros for all their troubles seems pretty stupid and childish.

He has mythical powers and secretly runs the world, according to some dummies here.

He`s no rupert.

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RE: Oh the Lizard of Oz has other troubles now. - 7/5/2011 9:16:23 PM   
FirstQuaker


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Status: offline 		I suppose you think the Torygraph, whom I cited regarding Murdochs scanadals and troubles in the UK is also doing so out of some attempt at deceit, no?

Murdoch and his empire and their sordid conduct have moved well out of United States partisan politics,. Like all those who think to profit by the playing of two sides against the other, he is finding himself receiving the hostile and negative attentions of both.

When the lumpen in the United States reach the stage they have in the UK, hanging will be too good for Rupert.

As for Soros, not to jack your thread, but while he hasn't been assigned his own imp to ride about on his shoulder by the Illuminati as some might suggest the man is well versed and experienced in various high level financial sleaze, and has barely escaped criminal charges on a number of occasions. A pillar of integrity he isn't.

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