During on an earning call Carey said "We’ve been clear that MySpace is a problem. The current losses are not acceptable or sustainable." and he wants to see Myspace on “a clear path to profitability” on a timetable measured “in quarters, not in years.”
News Corp. paid $850 million for the networking site back in 2005. Of course this was before Facebook emerged and became the dominant force in the sector leaving MySpace in the dust. [Geek]
