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

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

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


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
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 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)