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The following article was published in our article directory on April 15, 2011.
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Myspace will lose 1.65 billion dollars In the fiscal year of 2011

Article Category: Business

Author Name: Amanda xzh

News corporation in Myspace social networking websites sell bits, says the proposal by 30 June 2011 fiscal year 2011, the Myspace will lose money 1.65 billion dollars.

13. News, according to foreign media reports, news corporation in Myspace social networking websites sell bits, says the proposal by 30 June 2011 fiscal year 2011, the Myspace will lose money 1.65 billion dollars.

This project proposal mentioned, by 30 June 2011 fiscal year 2011, the Myspace revenue for only $1.09, the cost of 2.74 billion dollars.

Fiscal 2012 without plan (EBITDA interest, tax, depreciation and amortisation earnings) expected before for $15 million, income fell to 84 million, falling to $6,900 cost. This suggests that the company might launchs large-scale layoffs.

MySpace, 2013 fiscal year are expected to achieve $1.01 billion revenue, fiscal 2014 $1.19 $139 billion fiscal, 2015.

The Wall Street journal quoted an article on condition of anonymity, said people familiar with the report news corporation words may make more MySpace to attract potential buyers of thin body. These include music video service company buyers Veno, China's Internet company tencent and private equity securities firms.

News corporation has with these companies and Chris dean WoFu (Chris DeWolfe) MySpace negotiations concerning the sale. Dean in 2005 WoFu 5.80 billion dollars with news corp. takeover MySpace joined the Rupert Murdoch (Rupert Murdoch) media empire.

News corporation, said on January disclosure of MySpace in exploring sold or other options. News corporation's chief operating officer, Carrie (Charlie west Chase Carey) MySpace said last November, the notice of the social networks of losses cannot be sustained.
Social networking website Facebook users have risen to five million. But MySpace user population decline. Earlier this year, MySpace shed 500 employees, accounting for almost half of the total employees.

The Myspace music assets include artists and fans to provide web pages, the music video advertisement support Vevo. Com is useful. Vevo is launched in December 2009, and investors including vivendi's universal music company, SONY music entertainment companies and ABU dhabi media companies, including universal music company Myspace music is the investors.

Sources said the news group hired, the new york-based investment bank Allen&Co. In charge of the social networking site assessment bid, and aimed at this fiscal year ended June in the agreement; News corporation in the next few weeks will seek response.

Article 5 big video website
According to ComScore data, Vevo is the nation's fifth largest video website, February the web site users to 4590 million. Meanwhile, ComScore says February MySpace global flow decreased from 29%, subscribers in October 2010 6260 million around 120 million down to.

To this, news corp. spokeswoman Julie Henderson (Julie Henderson) and Ben Vevo spokeswoman Jennifer ??? Jennifer Press) all (declined to comment.

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