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MySpace On Its Knees

Earlier this week MySpace sent an email which offers a hint of how desperately they're fighting for survival.

The letter came on top of an earnings report from parent News Corp that showed recent MySpace layoffs cost $107 million in severance and restructuring. News Corp also took a $168 million write-down, based mostly to the MySpace's falling valuation.

To help turn the tide, MySpace sent this email begging users to give them another try:

We've missed you at Myspace lately. Plain and simple, we think you should come back. And here's why.

The new Myspace provides the best social entertainment experience on Earth.

You can now follow your favorite topics in music, movies, celebs, and TV and get instant updates from around the web.

The new Myspace gives you custom recommendations so you can discover more of what you love and connect with new like-minded friends.