MASHABLE -- Aug 5 -- News Corp hasn’t been doing so well in the last year. The company’s net income was $5.4 billion in the 2008 fiscal year, but the numbers they released for 2009 show the company heading in the complete opposite direction: a loss of about $3.4 billion. News Corp specifically blames MySpace for a loss of $363M. Now it’s no surprise why MySpace cut 30% of its staff and hired a new CEO: It’s a sinking ship. FULL ARTICLE @ MASHABLE
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