MySpace CoFounder Says Purchase Was A Scam
Brad Greenspan, one of the original founders of the MySpace universe, published a report that claims that News Corp.'s 2005 acquisition of MySpace may have defrauded shareholders by "more than $20 billion." Greenspan has requested further investigation by the Securities and Exchange Commission, the U.S. Department of Justice and the U.S. Senate Committee on Finance.
How was News Corp able to capture turn $327 million into $20 billion or more of value within a year? The Myspace/Intermix transaction was so low compared to other internet...
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