News Corp likely to shut down MySpace by June "unless we see remarkable turnaround," analyst says 
Time to back up the ol’ myspace bolg!
News Corp. will most likely shutter MySpace by June “unless we see a remarkable turnaround in the next few months,” Alan Gould, an analyst with Evercore Partners, said in a research note to clients today before the restructuring was announced.
Fox Interactive Media, which includes MySpace, may lose $225 million this fiscal year, up from an estimated $180 million last year, Gould said. He reduced his estimate for News Corp.’s fiscal 2011 operating income by 5 percent because of MySpace’s losses and weaker film results.
(Source: soupsoup)
via frakyeahsocialmedia
