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How News Corp Got Lost In Myspace

By Yinka Adegoke(NEW YORK) As Rupert Murdoch stepped into the Grand Ballroom of San Francisco’s Palace Hotel at the Web 2.0 conference in October 2007, the developers and engineers who packed the room fell into a respectful hush. It was the…

By Yinka Adegoke

(NEW YORK) As Rupert Murdoch stepped into the Grand Ballroom of San Francisco’s Palace Hotel at the Web 2.0 conference in October 2007, the developers and engineers who packed the room fell into a respectful hush. It was the sort of greeting usually reserved for one of their own tech heroes, not a 76-year-old media mogul.

Sitting cross-legged on a red leather couch, Murdoch looked relaxed in an open-necked shirt. Next to him sat Chris De Wolfe, the co-founder of Myspace, the social network that News Corp’s chairman had acquired for $580 million two years earlier.

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