News

Myspace financial predictions reveals as News Corp pushes sell-off


News Corporation expects Myspace to post a $165 million loss for its fiscal 2011, which ends on 30 June. That’s according to the pitch book sent to potential acquirers of the social service, which has now fallen into the hands of TechCrunch. The book says Myspace revenues for fiscal 2011 are expected to be $109 million, with expenses running at $274 million. The pitch book makes predictions for the future too, claiming that in fiscal 2012, revenues will fall to $84 million, but expenses will fall drastically to $69 million. How? That’s left rather more vague. The book also predicts revenues for 2013, 2014 and 2015 – $101 million, $119 million and $139 million respectively. “The real question is how much News Corp. should be paying someone to take this off their books, not the other way around,” says TechCrunch.


Written by: Music Ally