RUPERT Murdoch has delivered a sobering assessment of the internet as a growth engine, revealing search and advertising revenues at News Corp's Fox Interactive Media division, which houses the popular MySpace networking site, have stalled.
The new-media unit, which has invested heavily in expanding the MySpace site, contributed just $US7 million ($10.4 million) to News Corp's $US818 million second-quarter operating income.
There was a "slight downturn" in revenue at the social networking site, Mr Murdoch said. That compares to $US179 million News Corp made from newspapers including The Wall Street Journal and information services such as the Dow Jones news wire.
No comments:
Post a Comment