This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

7 Awful Acquisitions of Giant Companies

News Corp buys MySpace
Sale price: $580 million
In 2005, as Myspace was just starting to lose its mojo to Facebook and was reduced to the Web's largest depository of pre-teen poetry and glittery unicorn GIFs, it found a savior.

News Corp (NWS) -- led by no less an Ashton-like hipster as Rupert Murdoch -- acquired Myspace and its parent company Intermix Media for $580 million.

Things looked good for a while, and until 2008 Myspace held on to its place as the top social networking platform in the world. Then Facebook finally blew past it in Web traffic.

Murdoch reportedly grew increasingly frustrated that the site failed to meet revenue projections and that it never materialized as an entertainment hub. Worst of all, it was adding little or no value in pushing Fox-produced content. Massive layoffs began in 2009 and continued until the company was sold in June of this year to Specific Media (who counts among its owners the far more Ashton-like Justin Timberlake) for nearly $35 million.
2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMZN $499.68 3.70%
DPS $90.27 -0.06%
F $11.40 0.48%
GM $28.15 1.00%
KO $42.72 -1.30%


Chart of I:DJI
DOW 16,124.67 +110.29 0.69%
S&P 500 1,879.12 +26.91 1.45%
NASDAQ 4,365.2060 +96.4430 2.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs