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Myspace Website For Sale
« on: January 15, 2011, 10:41:53 PM »
Agence France-Presse

News Corp. said Thursday it is exploring "strategic options" for Myspace amid reports it is considering a sale, merger or spinoff of the ailing social network.

The reports that News Corp. is looking to sell Myspace, which it bought for $580 million in 2005, only to see it be eclipsed by Facebook, surfaced a day after the social network cut 500 employees, nearly 50 percent of its staff.

Asked about the reports, a News Corp. spokeswoman told AFP: "We're exploring all our strategic options for the business."

The News Corp.-owned Wall Street Journal reported on Thursday that Myspace chief executive Mike Jones told employees in a companywide meeting on Wednesday that News Corp. is exploring a sale, merger or spinoff of Myspace.

Citing a "person familiar with the matter," the newspaper said News Corp. is in the early stages of the process and plans to conduct meetings with potential partners in the near future.

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