Rupert Murdoch On The MySpace Deal: “We Screwed Up In Every Way Possible”

Ever since Rupert Murdoch joined Twitter, he’s endorsed political candidates, talked about vacation, and even praised CES.

Now he’s given a one-sentence background on MySpace when his company, News Corporation, bought the social networking site for $580 million in 2005. Not too long afterwards, traffic dropped and the site became something of a graveyard as Facebook overtook it.

He writes that “we screwed up in every way possible” and “learned lots of valuable expensive lessons.”

rupert murdoch

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