News Corp won’t buy Twitter, keeps MySpace

Jul 9, 2009 | Uncategorized

News Corp owner Rupert Murdoch is not interested in buying popular microblogging site Twitter and will not sell its struggling social network MySpace, writes Reuters. Speaking at the Allen & Co investment bank’s Sun Valley media and technology conference, Murdoch said Twitter would be a tough investment to justify because it has not yet come […]

News Corp owner Rupert Murdoch is not interested in buying popular microblogging site Twitter and will not sell its struggling social network MySpace, writes Reuters. Speaking at the Allen & Co investment bank’s Sun Valley media and technology conference, Murdoch said Twitter would be a tough investment to justify because it has not yet come up with a sustainable way to make money. “Be careful of investing here,” he said of Twitter.
Twitter has been the subject of much take-over speculation in recent times. Last year, the micro-blogging service turned down a offer from Facebook, and has since been linked with Google, Micorosoft and Apple. Twitter itself isn’t short of cash, securing over $35m (£25m) in third round funding from investors in February.
From Reuters: http://www.reuters.com, 09/07/2009
MySpace: http://www.myspace.com

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