Friday, May 8, 2009

Rupert Murdoch is green ~ and not with money.


Bristling over a sharp decline in revenue, Murdoch turned the bitter cheek by lashing out at MySpace rival Facebook.

Murdoch’s News Corp. Media unit which consists mainly of MySpace suffered a an overall drop of 11% during the company’s fiscal third quarter .
In its earnings press release, the media giant attributed the decline to lower ad revenues combined with increasing costs related to MySpace Music, its joint venture with the major recording labels.

When asked about the advertising dip, Murdoch predicted growing traffic under new digital chief Jonathan Miller before training his fire on MySpace's nemesis:
He said ~ I quote "We are not going for the Facebook model of bringing hundreds and hundreds of millions of people who don't bring any advertising with them at all," he said.

Hmm.. since when is it a bad thing for any business to have audiences of hundreds of millions of people??!!

No comments:

Post a Comment