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NewsCorp chairman and CEO Rupert Murdoch conceded in a tweet yesterday that it badly bungled its ownership and management of former social networking star Myspace.
Murdoch, who opened his first Twitter account on January 1 of this year, apparently made the admission because he is one of the 140,000 people attending the Consumer Electronics Show CES in Las Vegas and he was asked a lot of questions about Myspace during the event. CES, the world’s biggest annual technology show ran from this past Tuesday until Friday the 13th, and featured 2,700 exhibitors showcasing their latest products and services. It was the first time Murdoch spoke about Myspace on Twitter.
Mr. Murdoch tweeted a number of times about CES during the week, first on the 9th that it was about to start and ”[I] expect to see amazing new technical developments like last year”, then on Thursday about the ‘amazing gizmos” noting Google is “extremely active”, and on Friday: “CES again. Big Three, Apple, Google, and Amazon and maybe Facebook dominant now and growing. Plenty of others good but not in same league.”
Finally on Friday Murdoch tweeted this about Newscorp’s handling of Myspace, causing a modest buzz in the Twitterverse: “Many questions and jokes about My Space.simple answer – we screwed up in every way possible, learned lots of expensive valuable lessons.”
NewsCorp purchased Myspace for $580m in 2005 but the website saw revenues and its active users dwindle over the years, and it sold it to Specific Media last year for just $35 million.
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