• Reuters, Friday, April 8, 2011 1:15 PM

"How News Corp. got lost in Myspace" is a detailed case history of "what can happen when a traditional media company imposes its will -- and business plan -- on a start-up that has not yet reached its potential," writes Yinka Adgoke for Reuters.

Among the examples of the "stubborn cultural divide" between the two companies cited in the piece, there's Rupert Murdoch's "brazenly" predicting in 2007 that Myspace would jump in revenue to $1 billion; perhaps the most crucial error, underestimating Facebook, "which "Murdoch once dismissed as a 'communications utility'"; and lack of innovation.

Read the whole story at Reuters »