Myspace is still draining users and cash at an impressive rate, according to figures from the Wall Street Journal quoted by Hypebot. The company is paying USD $60,000 per month for parking and $800,000 a month for legal fees at a time when its parent division is running at a loss of $165 million for the last quarter. The site’s unique visitors in April were down 46% on the same period last year. As we reported previously, News Corp is believed to be looking for a strategic partner in the knowledge that the current purchase offers of around $100 million barely scratch the surface of the $580 million paid for Myspace in 2005.Read more:

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