Myspace Sacks Third of Employees As Facebook Overtakes It In The US

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Myspace was purchased by Murdoch's News Corporation in what was considered at the time to be a master coup. For $580million, the wise man grabbed a website that managed to pay for itself with a single advertising deal with Google - worth $900 million. But times have changed and according to the Guardian, Myspace offices are likely to close outside the US.

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