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News Corp. is ready to sell MySpace to the much lower price than when bought in 2005.
CALIFORNIA - Commitment News Corp. to sell MySpace can not be contested. They are even ready to sell the social networking site with a much lower price than when bought in 2005.
World's third largest media conglomerate (after Walt Disney and Time-Warner) was poured no less than USD580 million to buy MySpace. But News Corp. could be going off with the official USD50 million to USD200 million.
MySpace is one of the enthusiasts MocoSpace, a social networking for mobile devices from Boston. MocoSpace reportedly have contacted News Corp. to discuss the purchase option.
"They are open to discussions with us. This may be an opportunity for us to reach an asset, where we have unique skills to solve it," said MocoSpace CEO Justin Siegel, as quoted in Business Day on Monday (02/07/2011).
A few days ago, News Corp. COO Chase Carey told investors that his company was considering a new owner for social networking which was formed in 2003.
MySpace has announced plans to layoff approximately 500 employees worldwide, or 47 percent of its work force. This is the continuation of massive layoffs in June 2009, when MySpace reduce 30 percent of staff following a decline in advertising sales and popularity Facebook a shot.
By sari, okezone.com, Updated: 2/7/2011 4:01 AM
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