Deal of the century
It could very well turn out to be News Corp.'s 2005 purchase of MySpace for $580 million (sorry Viacom). Pali Research analyst Richard Greenfield figures that the Bev Hills-based social networking site is generating in excess of $30 million a month in revenue, and that should double over the next 12 months with little increase in operating expenses. Annual revenues: over $700 million a year - not including the $900 million that Google pays out to News Corp. for exclusive search rights. Just a year ago, monthly ad revenues were running $13 million.
5:50 PM Wednesday, March 28 2007 • Link
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Lee Abrams, Tribune Company's chief innovation officer, doesn’t seem too impressed with the Los Angeles Times. That’s the feeling I got when he appeared at the Los Angeles Press Club.
Seven or fifteen minutes from now I can definitively say I didn't hear the sound of sirens.
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