MySpace may trim down to win suitors

Apr 09, 2011
Thomepage of the MySpace website. Reports surfaced on Friday that faded social networking star MySpace may cut more staff to be attractive to suitors.

Reports surfaced on Friday that faded social networking star MySpace may cut more staff to be attractive to suitors.

A Wall Street Journal report cited unnamed sources as indicating News Corp. might make MySpace leaner for potential buyers including music video service Vevo, China-based Internet company Tencent, and private equity firms.

News Corp. has had MySpace sale talks with those companies and with Chris DeWolfe, a founder of the online social networking pioneer added to Rupert Murdoch's media empire in 2005 for $580 million, according to the Journal.

News Corp. owns the Journal.

News Corp. revealed in January that it was exploring a sale or other "strategic options" for MySpace, the ailing social network which has been eclipsed by Facebook.

. Chase Carey put MySpace on notice in November saying the losses at the social network were "unsustainable."

has grown to more than 500 million members while MySpace's numbers have dwindled. Early this year, cut some 500 jobs, nearly half its staff.

Explore further: Ebola.com domain sold for big payout

add to favorites email to friend print save as pdf

Related Stories

News Corp. puts Myspace on the block

Feb 02, 2011

News Corp. said Wednesday it was exploring a sale or other "strategic options" for Myspace, the ailing social network which has been eclipsed by Facebook.

News Corp. exploring options for Myspace

Jan 13, 2011

News Corp. said Thursday it is exploring "strategic options" for Myspace amid reports it is considering a sale, merger or spinoff of the ailing social network.

Google to keep powering MySpace ads, search

Dec 16, 2010

MySpace on Thursday announced that Google will continue to power advertising and search at the flagging online social network under pressure to improve its financial performance.

MySpace deepens ties with rival Facebook

Nov 18, 2010

MySpace on Thursday began letting members tap into entertainment preferences expressed in Facebook profiles in a deepening of ties with the firm that snatched its social networking crown.

Myspace slashing 500 jobs, nearly half its staff

Jan 11, 2011

Myspace announced on Tuesday it was cutting some 500 jobs, nearly half its staff, in a move seen as potentially setting the stage for a sale of the social network owned by Rupert Murdoch's News Corp.

News Corp. puts Myspace on notice

Nov 03, 2010

Rupert Murdoch's News Corp. put Myspace on notice on Wednesday, saying the losses at the ailing social network were unsustainable and there needs to be improvement in the next few quarters.

Recommended for you

Ebola.com domain sold for big payout

Oct 24, 2014

The owners of the website Ebola.com have scored a big payday with the outbreak of the epidemic, selling the domain for more than $200,000 in cash and stock.

Facebook goes retro with 'Rooms' chat app

Oct 23, 2014

Facebook on Thursday released an application that lets people create virtual "rooms" to chat about whatever they wish using any name they would like.

User comments : 0