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Given its phenomenal rise in user popularity, there’s little doubting the potential connected to micro-blogging phenomenon Twitter in terms of possible acquisition. However, regardless of Twitter’s obvious appeal, one major player in the networking scene has ruled itself out of the running this week.
Interested in buying Twitter? No. Image: mikegoat/Flickr.
Specifically, News Corp. chief executive and media mogul Rupert Murdoch has said his company has absolutely no interest in purchasing Twitter, adding that the micro-blogging service could well be an unwise investment given that it has not established a sustainable moneymaking business model.
Speaking at a media and technology conference in Sun Valley, Idaho, Murdoch was also quick to counter suggestions that News Corp. is looking to offload its MySpace social networking service, which has lost momentum against the dominance of rival network Facebook.
When quizzed during the conference about a possible Twitter purchase, Murdoch reacted with a simple “No.” And, when asked if News Corp. would be willing to sell MySpace, he answered with an equally cursory “Hell no.”
Purchased in 2005, MySpace cost News Corp. $580 million USD. However, its huge user base has since been surpassed by Facebook and the company has laid off more than 400 employees in the United States in order to cut operating costs.
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