Murdoch Tweets About Myspace Failure

On Twitter, News Corps. Chief Rupert Murdoch confessed: "We screwed up in every way possible." He added the company learned a lot of valuable and expensive lessons from the purchase of the social networking site.

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STEVE INSKEEP, HOST:

And today's last word in business is an announcement made in the middle of the night. It came from Rupert Murdoch, the head of News Corps.

DAVID GREENE, HOST:

The owner of many newspapers and Fox News recently started sending out messages on Twitter, and overnight he commented on one of News Corps' failures: its expensive purchase of MySpace, a social networking site that swiftly passed out of fashion.

INSKEEP: Early this morning on Twitter, Murdoch confessed, quote, "many questions and jokes about MySpace. Simple answer: We screwed up in every way possible, learned lots of valuable, expensive lessons."

GREENE: Now we don't know what time zone Murdoch was in when he made that confession, but the tweet came across at 2:05 AM Eastern Time.

INSKEEP: And Murdoch's message prompted a variety of responses, some critical and others sympathetic. Maria-Helena Miranda tweeted back: Sir, don't feel bad. It's all about life's learning journey.

And that's the business news on MORNING EDITION, from NPR News.

GREENE: I'm David Greene.

INSKEEP: And I'm Steve Inskeep.

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