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Digital
News Corp confirms MySpace sell off plans
By CMU Editorial | Published on Friday 14 January 2011
News Corp has confirmed it is looking to sell off its flagging web company MySpace. Following much speculation that a sale was in the offing, a rep for the Rupert Murdoch controlled media giant told Bloomberg on Wednesday that the company was “assessing a number of possibilities including a sale, a merger and a spinout – the process has just started”.
As previously reported, it is widely assumed that this week’s axing of 500 MySpace staffers was in part designed to make the company more attractive to potential buyers. Despite trying to reposition itself as an entertainment sharing, consumption and delivery platform whatnot, MySpace is still struggling to compete with other digital operators such as Facebook, Twitter and YouTube.
