News Corp. rumored selling MySpace for $700 million

MySpace logoNews Corp. is frantically trying to sell MySpace, a short but potentially major rumor maintained this afternoon. Company head Rupert Murdoch is said by SAI to be "desperately" looking for a buyer and has been talking to private equity firms as possible candidates. The social network would be tentatively valued at $700 million.

MySpace has been contacted for comment but hasn't had an opportunity to respond as of press time.

The deal, while unverified and possibly inaccurate, would potentially have its roots in the service's relative decline within the past two years. Facebook has not only overtaken MySpace by a significant margin but in the past few days has at least temporarily passed Google in sheer traffic volume. It has tried to position itself as a media service with both MySpace Music as well as buyouts of iLike and iMeem, but the deals have had little effect as visitors either use services on Facebook or conventional pay-to-download services like iTunes. The firm has also been chastised for a relatively modest mobile strategy where Facebook has been praised for its presence on smartphone plaforms like Android and iPhone.

Compounding the issues are the possibly forced exit of former CEO Owen van Natta as well as other executive departures, all of which have left the company focused on stabilizing its leadership rather than improving the site.

Source: electronista

Tags: Internet, MySpace

Add comment

Your name:
Sign in with:
Your comment:

Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party

Last news

Pokemon GO had the potential to net $1 billion a year
The report said that Hon Hai has invested about US$600 million in India
Market research firm IDC reports that in the third quarter of this year
Customers will only have to shell out 50% of the cost of their Galaxy S7 device
New flagship will launch in 2017
Patent hints at name of the upcoming Surface AIO
IBM, Globalfoundries and Samsung have chosen to use extreme ultraviolet (EUV) light to pattern transistors
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
HP Slate 7 is a 7-inch Android 4 Tablet PC with good sound
A cost-effective, 7-inch tablet PC from a renowned manufacturer
October 25, 2013 / 4

News Archive



Do you use microSD card with your phone?
or leave your own version in comments