TO: High-Level Business Executives
FROM: The Executive Whisper
Time to stop investing all those resources on your MySpace profile. Om Malik, notable smart guy and founder of the reputable technology-web 2.0 news site Gigaom is reporting, “Rupert Murdoch’s $580 million MySpace purchase has outlived not only its utility, but has also finally hit its expiration date.”
Back in 2005, the speculation was that the acquisition of MySpace positioned Murdoch to challenge the dominance of MTV.
“No matter what you may think of Rupert Murdoch, he never overpays and you can’t underestimate his brilliance. After all, he challenged the 3 major TV broadcast networks by creating Fox, then he challenged CNN by launching FoxNews, and he’s currently revamping FX with a slate of edgy original programming to go against HBO. I believe he’s now going after MTV, and if indeed that was his reason for buying MySpace, not only was it another brilliant move by the media mogul, but the price he paid was a bargain,” wrote, um, notable smart guy Om Malik in August, 2005. (See, nobody really knows what the hell is going to happen next.)
I pass along the MySpace R.I.P., less because any of us really care about MySpace, but as a reminder that hot properties come and assuredly most go.
