When Rupert Murdoch’s News Corp. purchased Myspace back in 2005 for $580 million, it seemed a sound investment even if the price was a little high and Facebook was brewing. Fast forward six years and News Corp. has offloaded Myspace—offering little more than band pages at this point—for a measly $35 million to ad network Specific Media as of yesterday—coincidentally enough the same day Google threw down the gauntlet with its own revolutionary social network.
To put things further into perspective, Facebook recently priced itself at $100 billion.
[via Gawker]
