From CD Baby
You all remember Tom Anderson, right? He was probably your first friend on MySpace. Back in 2005, he and his co-founder Chris DeWolfe sold MySpace to Rupert Murdoch’s NewsCorp (Fox News, New York Post, etc.) for $580 million. Those were glorious days. Simpler times. Before the constant spamming. Before the ad blitz of gyrating ladies and American Apparel ad nauseum.
Today, it is rumored that NewsCorp, who’d hoped to unload MySpace for $100 million, started the bidding at $30 million (only 5% of its $580 million purchase-price).
Read the whole article
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