Myspace Acquisition Defrauded Shareholders of $20 Billion
Filed in archive by Mark Brooks on October 6, 2006
, have come forward indicating significant breaches of fiduciary duty as part of the News Corp. transaction," continued Greenspan. Shareholders were not aware that Myspace's revenue was growing at a 1200% annualized rate and increasing. Shareholder's were forced to trust the recommendation of Intermix's Board and were under the impression Myspace was unable to turn its massive traffic into revenues. FULL ARTICLE @ BLOGGING TMESMark Brooks: Back up a second. For one "a bird in the hand is worth two in the bush." The $580 million wasn't that shabby a valuation at the time, and News Corp is a great partner for MySpace. Secondly, "experience is the toughest teacher, it gives you the test first, and the lesson afterwards." Who knew YouTube and Facebook would be bartering for (bubble 2.0) $1 billion sellout deals. Should Brad stop "crying over spilled milk." Something tells me he didn't get his share of milk. Your comments please.
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Mr Wong
