MySpace Helps News Corp Lose $363 Million

Courtesy Mashable!  Wed, 08/05/2009 - 17:08

MySpace LogoNews Corp., which owns FOX, The New York Post , the Wall Street Journal , and other media outlets, hasn’t been doing so well in the last year.

The company’s net income was $5.4 billion in the 2008 fiscal year, but the numbers they released this afternoon for 2009 show the company heading in the complete opposite direction: a loss of about $3.4 billion.

 Ouch.

So who’s to blame? Falling newspaper ad...

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