Word has it that Rupert Murdoch's NewsCorp are in talks with Yahoo! re some kind of deal whereby the web firm would get ownership of one time social networking site of the moment MySpace in return for giving the Murdoch empire a 25-30% stake in their company. And it's the Murdoch owned The Times reporting on this, so presumably there is some truth in the rumours. According to the Times if a deal of that kind went ahead it would value MySpace at $10-11 billion. The discussions have apparently been going on for a while. How involved Yahoo chief Terry Semel has been, and whether his previously reported departure from the CEO role will affect the deal, is not known.
Jun 21, 2007
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1 min read
NewsCorp in talks with Yahoo! over MySpace deal
According to The Times, NewsCorp is in talks with Yahoo! over a deal that would give Yahoo! ownership of MySpace in return for a stake in Yahoo!, valuing MySpace at $10-11 billion.