News Corp. Puts MySpace on Notice

The powers that be at News Corp. aren’t too happy with MySpace lately so the company has put the red headed stepchild social networking site on notice.

"We've been clear that Myspace is a problem," News Corp. chief operating office Chase Carey said during a conference call with analysts. "The current losses are not acceptable or sustainable," he added. "Our traffic numbers are not going in the right direction."

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