Murdoch Paid $580M For MySpace. Sold It For $35M.

In 2005, MySpace was the internet. A hundred million users. The most-visited website in America. Rupert Murdoch's News Corp paid $580 million in cash and called it the bargain of the century.

Then came the mandate: monetize at all costs. Ads flooded every page. The interface buckled. The culture rotted. Meanwhile, a cleaner, simpler site called Facebook quietly overtook them.

By 2011, Murdoch sold MySpace for $35 million. A 94% loss. The site that once owned the internet traded for the price of a Manhattan penthouse. Facebook today? Worth over a trillion.

That's what the ledger shows.

#MySpace #Murdoch #NewsCorp #Facebook #BusinessHistory #LedgerLane #Shorts #CorporateFailure #TechHistory

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