Brad Greenspan, the former CEO of eUniverse which gave birth to MySpace has launched an assault on News Corp’s acquisition of MySpace.com.
“The answer to how News Corp. was fortunate enough to buy one of the largest and most valuable Internet companies for pennies on the dollar is now clear,” said Intermix’s largest individual shareholder and Myspace founder Brad Greenspan.
“I expect as the authorities get their arms around what happened, that this transaction will be unwound and Myspace will be independent. An independent Myspace is significantly better for its users and shareholders.”
“For the first time the public can read what took place behind the scenes and how shareholders were blatantly misled into voting for a quick and unfair sale to News Corp.,” continued Greenspan. “Deliberate steps were taken to withhold and manipulate information; money was improperly gained and laws were broken. It is my hope that regulatory bodies will begin their investigations quickly before evidence is destroyed.”
Update: Brad Greenspan is referring to when he launched FreeMySpace.com (an archive), which presented evidence that concerning insider trading, and the coercive tactics News Corp. used to purchase MySpace.com for an unreasonably low sum.
[...] may remember me from such articles as “MySpace: The Business of Spam 2.0” and “MySpace Founder Speaks Out Against News Corp“. /end Troy McClure [...]