Latest Chase Carey Stories

2011-02-03 10:05:00

Rupert Murdoch's News Corp. is exploring a sale or other "strategic options" for Myspace, the former social network giant which has been eclipsed by Facebook in recent years, AFP reports. News Corp. chief operating officer Chase Carey said during a conference call with financial analysts to discuss News Corp.'s second quarter earnings, "We recognize that the plan to allow Myspace to reach its full potential may be best developed under a new ownership structure and we're evaluating those...

2011-01-12 06:15:00

MySpace announced Tuesday that it was slashing about 500 jobs, nearly half its staff, setting the stage for a possible sale of the former Internet social networking leader. "Today's tough but necessary changes were taken in order to provide the company with a clear path for sustained growth and profitability," MySpace CEO Mike Jones told AFP in a statement "The new organizational structure will enable us to move more nimbly, develop products more quickly, and attain more flexibility on the...

2010-11-30 07:47:17

The chief executive officer of News Corp said Monday that his company is open to a sale of the struggling MySpace although the company is pleased with the new direction it is taking as a social entertainment destination. A sale or a partnership is two options News Corp CEO Chase Carey said the company would consider for the once valuable social network, before being overtaken by social networking giant Facebook. Recent speculations have surfaced that News Corp had been looking to sell the...

2010-11-04 11:07:46

Rupert Murdoch's News Corp. warned Myspace Wednesday that its losses were unsustainable and that there needs to be improvement in the next few quarters. "We've been clear that Myspace is a problem," News Corp. president and chief operating officer Chase Carey said during a conference call with analysts. "The current losses are not acceptable or sustainable," Carey said. "Our current management did not create these losses but they know we have to address them." Carey said last week's redesign...

2009-02-11 07:40:00

The nation's largest satellite TV provider reported a 5 percent decline in net income for the fourth quarter, despite soaring revenue, due to higher customer acquisition costs and interest expenses. According to the Associated Press, the DirecTV Group Inc. remains a strong rock in a financial storm thanks to higher customer additions, a stable cancellation rate, and a 20 percent increase in free cash flow. It was able to raise prices as well. "We've weathered the economic storm so far but...

Word of the Day
  • A fool; a simpleton: a term of abuse common in Ireland and to a less extent in the Gaelic-speaking parts of Scotland.
This word is partly Irish in origin.