Murdoch On Myspace: ?I Made A Huge Mistake.?

Rupert Murdoch withstood intense grilling at News Corp's annual shareholder meeting today, which focused largely on the phone-hacking scandal that is causing such an upset in the company's financials and leadership. But among other things, Murdoch owned up to the debacle that has been Myspace. "I made a huge mistake," he said. "We then proceeded to mismanage it in every possible way. All of the people concerned with it are no longer with the company." Except for himself, of course. The fact that it was a mistake and a mismanaged one at that is not news to the rest of the world, but the unmixed apology for the billion-dollar boondoggle reflects how low recent events have brought the once-proud news giant.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/-BW18-m65zI/

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