News Corp NoseDive But MySpace Doing Ok August 5, 2008Posted by John in Technology.
Tags: News Corp, SAI
I think that MySpace is showing News Corp that their other business are under pressure to adopt to changes in user behavior and more importantly core business model processes and infrastructure.
Fox Interactive/MySpace: News Corp. doesn’t break out financials in the release, though the Murdoch and Chernin usually do so in the earnings call. For now the company will only say that FIM’s operating income decreased for the quarter. That’s because “strong search and advertising revenue growth” was “offset by increased development and technical costs related to the addition of new features and costs associated with the startup of new ventures.” Update on FIM revenues: FIM/MySpace: $225M, up 23% y/y, up consecutively from $210M in Q3, but still not as high as $233M in Q2.