Rumor of the Day: MySpace with Neck on the Guillotine

It took two dozen words of the president of News Corp., Chase Carey, to spring up the rumor that MySpace should end soon. During a conference call with analysts yesterday, Carey said “we know that MySpace is a problem” and that “current losses are not acceptable or sustainable.” Despite the recent redesign and change of logo, MySpace can not traffic enough to stay profitable. Carey did not reveal how long he will give the current site of the team to recover.