News Corp’s Murdoch not a Twitter follower

Rupert Murdoch has warned investors to stay away from Twitter until the microblogging site can find a way to make some money, reinforcing his claims that News Corp has no interest in acquiring the website.

Speaking at the Sun Valley conference yesterday, the News Corporation CEO warned “be careful of investing here” in regards to Twitter and gave a staunch “hell, no” when asked if he was considering selling struggling social network MySpace.

MySpace recently laid off a third of its staff worldwide, about 700 employees, and has been eclipsed by Facebook as the most popular social networking site in the US, a title MySpace held for more than five years.

Murdoch called Facebook a “directory” and “how they make money is another matter”.

Marc Andreessen, a Facebook board member, revealed this week that Facebook is set to earn in excess of £500 million (£309 million) this year and will likely be posting billions of dollars in revenue in five years.

Source: Brand Republic

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http://www.brandrepublic.com/News/919069/News-Corps-Murdoch-not-Twitter-follower/

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