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Re:Twitter Raises $200 Million at $3.7 Billion Valuation; Adds New Boa... on Thursday December 16, 2010 @03:27AM (#2011472)

The purchase of MySpace's parent company was $580 million. Apparently $327 million of that was "attributed" to MySpace itself.

Revenues are meaningless. MySpace last reported a profit in 2007, of $10 mil on $550 mil in revenue.

Facebook then proceeded to eat MySpace's lunch.

August 2010 article about how News Corp. may never profit from MySpace:

MySpace's current market value is nowhere close to the $5 billion you claim. It has been hemorrhaging market share to Facebook for years.

Just check out the graphs.

Steady drop toward zero.