And to pile on, just a mere four years ago there were folks valuating MySpace at somewhere around $5 billion. $5 BILLION to $35 million in four years (probably means that $5 billion was a little off)...
Before this news came out, MySpace was on a list created by 24/7 Wall Street of brands that they think will cease to exist before 2013. Others include Sony Pictures, A&W Restaurants, automaker Saab, American Apparel, Sears, cereal brand Kellogg's Corn Pops, magazine Soap Opera Digest, and cell phone makers Sony Ericsson and Nokia.
In the section on myspace, it said
The brand is worth little if anything. A buyer is likely to kill the name and fold the subscriber base into another brand. News Corp has hinted it will close MySpace if it does not find a buyer.
Originally posted by KJames199American Corn Pops, specifically. I buy a few boxes every time I'm in Minot.
Wait, what? Are you telling me that America improved upon perfection? [/threadhijack]
American Corn Pops aren't perfectly round, and they're a lot softer. (Canadian) Corn Pops were like that when I was little, but they changed the formula eons ago.
Originally posted by WikipediaCanadian Corn Pops look very different; they are spherical and have a porous surface, similar to Kix cereal. The taste and texture of the Canadian and American versions of the cereal differ considerably despite sharing the same name and manufacturer. Kellogg's says this is due to raw ingredients and the regulatory agencies that exist in a particular country, and that its cereal differs by country also by virtue of marketing and culture. Research is done in different countries to determine preferences, and the formula for the cereal is changed accordingly, affecting the texture, color, and nutrition. The fat, cholesterol, and protein content is the same.
Justin Timberlake is part of the group that bought MySpace and is working to bring some "cool" back to it.
Pop star Justin Timberlake is part of a group that said Wednesday it will buy MySpace from News Corp., a bid to add some cool to a social network that has been losing it for some time. Timberlake will become a part owner and play "a major role in developing the creative direction and strategy for the company moving forward," according to Specific Media, the company that he will partner with.
"There's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place," Timberlake said in a statement.
(edited by Zeruel on 30.6.11 0304)
-- 2006 Time magazine Person of the Year -- -- July 2009 Ordained Reverend --
Originally posted by Justin TimberlakeThere's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place.