Typo:
New Corp owns MySpace
I'm really not surprised. It was always a horrible platform, with pages customised to death to the point where they were illegible - more of a vanity project than anything else. If you actually wanted to meet people, organise events, join groups, play games, i.e. socialise in the web sense, then Facebook was the far better option.
MySpace was more about exactly that - creating your own space. Socialising came a distant second.