This is really rather sad. It also demonstrates that big media still doesn't get social media.
So now we can see how the damage works
Murdoch's NEWSCORP purchased MySpace 6 years ago for $580 Million. Now the troubled site has been sold on for less than $37 million with NewsCorp retaing 5%. Specific Media is an ad business and will likely treat MySpace as a vehicle of nefarious ad laden overhead.