MySpace may trim down to win 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.
(c) 2011 AFP