Keep in mind that most of that 2011 loss is probably comprised of one-time write downs. Imagine a company where everything was scaled to the roof in 2009 and t

Keep in mind that most of that 2011 loss is probably comprised of one-time write downs. Imagine a company where everything was scaled to the roof in 2009 and two years later it's 33% of the peak. You have to downsize contracts, dispose of hardware, lay off people, etc. In many cases you're buying out of a bad situation. Couple that with the fact that Myspace is a small division in News (think Fox) and these accountants are experts in fiddling with the books to move losses around (think movie studio accounting).