How bad is the situation for MySpace right now? Pretty bad: Not only is the social networking site losing tons of money, but the chief operating officer of its parent company wants it to rebound "in quarters, not in years."
Poor MySpace! It's hard not to feel bad for the bloated, ugly social networking site these days. While Facebook's membership rolls number around 500 million, MySpace counts its members in the tens of millions. And even with its new redesign, it's not clear it'll last long enough to improve those figures, reports USA Today: