News Corp Hangs For Sale Sign on MySpace

| News

MySpace, the social networking site that apparently most people didn’t realize was still in business, is for sale. In addition to fielding potential buyers, MySpace owner News Corp said it would consider investor deals, too, according to paidContent.

 

News Corp seems to be keeping a stiff upper lip over the prospect of selling off MySpace. “The new MySpace has been very well received by the market and we have some very encouraging metrics,” said News Corp COO Chase Carey. “But the plan to allow MySpace to reach it’s full potential may be best achieved under a new owner.”

MySpace recently went under a restructuring to cut back on expenses, which may have been a move to make the company more enticing to potential buyers. Mr. Carey added that MySpace’s senior management “is excited.”

Despite the fact that MySpace has been lost in the shadow of other social networking sites like Facebook and Twitter, News Corp thinks it may be able to find someone to take the company off its hands.

“There’s been a lot of interest, because there’s been some indication we’re pursuing this path,” Mr. Carey said.

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