In 2005 News Corp. acquired MySpace for $580 million. Now, six years later, after a long search for a buyer, News Corp. has finally sold it for $35 million. As is common with most companies, News Corp. doesn’t talk about the specific financial flows behind any one project and so it’s difficult to know how MySpace affected News Corp. Still, Arstechnica
attempted to make some inferences based on educated guesses. Arstechnica
estimates that MySpace was losing $8 million a year when it was acquired by News Corp. and that it lost $431 million in 2010, the year before it was able to offload it. You can read more about the analysis here.

Source: Arstechnica