Rupert Murdoch on MySpace: We screwed up

Rupert Murdoch continues to tweet interesting stuff through his Twitter account.

A recent tweet is related to the whole MySpace fiasco that his company went through.

News Corporation acquired MySpace for around USD 580 million. At that time, MySpace was the most popular social network on the web. It was hugely popular in the US market.

But things never got better for the company under News Corporation. Facebook arrived and screwed up things for all the competing services in the social networking market.

News Corporation recently sold MySpace for a major loss.

Rupert had this to say:

Too bad he did not even get the name of the service right in his tweet.