11 Worst Tech Mergers and Acquisitions Ever

11. News Corp and MySpace

Value: $580 million

It may not be a very expensive deal compared to other bad acquisitions not included in this article, but the way it flopped had a major impact on the social media industry. So, we all remember MySpace, the website where we stalked our exes before Facebook. In 2005, News Corp (NASDAQ:NWSA) acquired MySpace’s owner, Intermix Media, for $580 million in an attempt to get more involved in the internet segment. The deal looked very good at first, as a year later MySpace was the top social network in the U.S. and in 2007 it had a valuation of $12 billion. However, due to poor management and lack of innovation, MySpace was overtaken by Facebook in 2008, and in 2011, News Corp sold MySpace to Specific Media Group and Justin Timberlake for just $35 million. By the way, it’s still operating (in case you didn’t know, since no one seems to actually use it anymore). And now, let’s see what else we have in our list of worst tech mergers and acquisitions ever.

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