In a press conference to announce the figures, Rupert Murdoch is reported to have stated that "during the last two or three years, I think we made some big mistakes".

Murdoch stated, however, that MySpace was the leading music-centric site in the world based on page views. He also claimed that the new management team is working on a variety of new features for the site.

News Corp. bought MySpace in 2005 for $580m (?385m). The past few months have ...