The chairman and chief executive officer of News Corporation, Rupert Murdoch, recently admitted that the firm "screwed up" MySpace.
Via a tweet on the popular micro blogging site Twitter, he wrote, that his company, "screwed up MySpace in every way possible."
News Corporation acquired the social networking website for $580 million in 2005, but had to sell it to Specific Media, an advertising network, last year for only $35 million which is less than one tenth of the amount they paid to acquire it.
Murdoch, joined Twitter at the beginning of this year and,surprisingly today, he posted the tweet about the ill fated social networking site. The media mogul also added that from MySpace he had "learned lots of valuable expensive lessons," reports NME.
Interestingly, this is the first time Murdoch has openly talked about the social networking site that could not stand the test of time and gave him six difficult years.
Recently, Murdoch made several comments usingTwitter about the annual Consumer Electronics Show held in Las Vegas. For example, he recently commented that, "CES coming to a close. Seems like more innovation than ever, some great, all disruptive. Traditional coys [companies] feeling digital tornado," reports The Telegraph.