News Corp. Doesn't Want Twitter--perhaps subtle buyers remorse for Myspace?

Rupert Murdoch and News Corp. won't be buying Twitter, the ever popular and history making micro-blogging service. The main rational for the decision was that Twitter does not have a viable business model for generating profit.

News Corp. is unwilling to take another gamble in big buys of web 2.0 ventures (at the moment) following the 2005 580 million dollar purchase of Myspace, which hasn't been a good profit generator. Yet, when asked if Mr. Murdoch would try selling the internet behemoth, Myspace, he replied frankly: "Hell No!".