jon Posted June 29, 2011 Share Posted June 29, 2011 News Corp. bought MySpace for $580 million in 2005 Over the last 11 quarters, News Corp. had cumulatively lost about $1.4 billion on the business segment that houses MySpace. Pop star Justin Timberlake is part of a group that said Wednesday it will buy MySpace from News Corp. The deal is for $35 million, mostly in Specific Media stock, according to a person familiar with the matter. http://seattletimes.nwsource.com/html/businesstechnology/2015459941_apusnewscorpmyspacesale.html Quote Link to comment Share on other sites More sharing options...
billcoe Posted June 29, 2011 Share Posted June 29, 2011 Wow. Closer to home. Paul Allen and Charter Communications investment loses. Wow! Hard to say how much he lost, but $ 7 billion is quoted here but it could be much higher. http://seattletimes.nwsource.com/html/businesstechnology/2008683150_charter29.html "How do you lose $7 billion? That's a question for Microsoft co-founder Paul Allen, who has seen his massive investment in cable-TV operator Charter Communications all but vanish. Charter was Allen's biggest investment after he left Microsoft in 1983. He is Charter's chairman and holds a 51 percent stake in the company, the nation's fourth-largest cable operator, with 5.5 million customers in 27 states. But the stock is now 8 cents a share, down from an all-time high of $27.75 reached a few days after its initial public offering in 1999. The St. Louis-based cable company faces bankruptcy, analysts said. Allen wouldn't comment, and neither would Charter, other than a statement from Chief Executive Neil Smit, who said the company is continuing to negotiate with its bondholders. Analysts said Charter is likely to try rolling over its debt into new loans payable later, or swapping its debt for equity in the company. Charter has been skirting insolvency for years, but this time it faces a brutal combination of tight credit and billions of debt coming due." Quote Link to comment Share on other sites More sharing options...
DPS Posted June 30, 2011 Share Posted June 30, 2011 Paul Allen has had exactly one good idea. Quote Link to comment Share on other sites More sharing options...
Phil K Posted June 30, 2011 Share Posted June 30, 2011 Paul Allen has had exactly one good idea. You mean, other than suckering the taxpayers into building him a futbal stadium and making himself the prime contractor so he could skim off the profits? Quote Link to comment Share on other sites More sharing options...
Jim Posted June 30, 2011 Share Posted June 30, 2011 I'm going to invest in these: http://globalpublicsquare.blogs.cnn.com/2011/06/22/chinas-latest-craze-dyeing-pets-to-look-like-other-wild-animals/ Quote Link to comment Share on other sites More sharing options...
billcoe Posted June 30, 2011 Share Posted June 30, 2011 Quote Link to comment Share on other sites More sharing options...
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