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It was acquired in 2011 by a group of investors including Panasonic and singer/actor Justin Timberlake.
The investors acquired the site from Rupert Murdoch's News Corp., now 21st Century Fox, for million. had famously bought the company six years earlier, for 0 million.
Sears' struggles are taking a bite out of Lampert's fortune.
He was forced to reduce his stake in Sears to under 50 percent because of redemptions from hedge fund clients.
Investors have complained that Stewart is vastly overpaid and she cut her pay in response.
Stewart's best hope is to sell the company but given the trouble she has caused it's hard to imagine who would buy MSO.
As he continues to lose control over Sears, pressure will mount on Lampert to either take the venerable retailer private or sell it to someone else. The company has seen its market capitalization shrink by 98 percent.
New CEO Don Mattrick, the former head of Microsoft's Xbox business, was brought on in July to put some zing back in the game-maker.
The company has also slashed jobs and cut back on outside contractors in an effort to reduce costs.
Those cuts helped the company post better-than-expected third-quarter results, but unless Mattrick can position Zynga for success in mobile, he's going to have problems gaining traction.
Under its new management, My Space has tried to reinvent itself as a social music service.
It relaunched the website earlier this year and undertook a million advertising campaign.
We're not predicting that they will go out of business tomorrow, or anytime soon. Martha Stewart Living Omnimedia Martha Stewart's media empire has been circling the drain for years as the diva of domesticity's popularity fades.