News Corp won’t buy Twitter, keeps MySpace
- Added:
- Jul 09, 2009
News Corp owner Rupert Murdoch is not interested in buying popular microblogging site Twitter and will not sell its struggling social network MySpace, writes Reuters.
Speaking at the Allen & Co investment bank's Sun Valley media and technology conference, Murdoch said Twitter would be a tough investment to justify because it has not yet come up with a sustainable way to make money. "Be careful of investing here," he said of Twitter.
Twitter has been the subject of much take-over speculation in recent times. Last year, the micro-blogging service turned down a offer from Facebook, and has since been linked with Google, Micorosoft and Apple. Twitter itself isn't short of cash, securing over $35m (£25m) in third round funding from investors in February.
From Reuters: http://www.reuters.com, 09/07/2009
MySpace: http://www.myspace.com
