News Corp ready to sell MySpace

MySpace logo News Corp while talking about its latest results confirmed that it was effectively ready to sell MySpace. Chief Operating Officer Chase Carey thought that the major redesign and music focus showed "very encouraging metrics" but weren't enough by themselves. Real growth "may be best achieved under a new owner," he said.

The reasoning wasn't directly given, but MySpace was a drag on News Corp as a whole. Its losses grew five times larger to $156 million due almost exclusively to worsening ad payouts at MySpace. Its parent company spent over $275 million restructuring the site in what's been interpreted as a way of polishing the site for prospective buyers.

Carey explained to paidContent that all options were still on the table, but he thought a sale would give a "fresh perspective" to MySpace's team. Interest from buyers has ranged from anyone in the same business to financial groups and hasn't been limited to the US.

MySpace was at one time the largest social network in the world but gradually lost that position to Facebook. Most of the downfall was blamed on a reluctance to modernize the site with new features and clean up what was often considered a disorganized layout. News Corp after buying MySpace often tried to focus on music services for recovery and at one point thought its MP3 music store could beat iTunes, but none of its options proved successful in any significant way.

Tags: 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)