News Corp may axe MySpace if not turned around

News Corp might chop MySpace if it doesn't turn around within the next several months, the company's Chief Operating Officer Chase Carey said during a quarterly fiscal results call today. After a $70 million drop in revenue and plummeting traffic, the executive said the results were "not acceptable or sustainable" and implied the site would shut down if it wasn't fixed. A timetable wasn't given, but MySpace's timeframe would be measured "in quarters, not in years," Carey said....



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