News Corp. Hoping To Sell MySpace for $100m

[Keith Bee]

Source: Slate

MySpace may soon have a new owner.

News Corp.’s auction of the once-mighty social networking site is coming to a close, with the media giant expected to receive a handful of bids by the end of the week that are in the neighborhood of $100 million, the Wall Street Journal reports.

That price tag is either laughably high or embarrassingly low, depending on where you’re sitting. It is less than a fifth of the $580 million that Rupert Murdoch paid for the site six years ago. But that was when MySpace was the new Friendster, back when such a comparison was a flattering one.

Since then the company has fallen on hard times by pretty much any Web metric one looks at. It has lost active users, traffic, and, consequently, ad revenue.


Read more: http://slatest.slate.com/posts/2011/04/27/myspace_auction_news_corp_hoping_to_land_100_million_for_social_.html

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MySpace? What's that? :P

[DontTreadOnMe]

1. Facebook?

silly humans...

[harmonicon]

2. I'd give him like $15 for it.

That would just be to say that I owned it for a few days and show people the bit of paper when I was out drinking. If they then told me they had a myspace account, I'd laugh at them. Then I'd try to trade ownership of myspace for a round of shots.

[ejpoeta]

3. wow. didn't know they owned that site. wondering who uses it now.

i probably still have a page over there that i never really used.

[Snellius]

4. Murdoch has the anti-Midas touch

Who wants anything to do with anything that Rupert Murdoch has anything to do with? Mr. unCool. Look how well the iPad in-crowd took to his fake-hip The Daily news blog. The only thing that will save MySpace is if Murdoch sells it and buys Facebook instead.

[aquart]

5. Gotta pay Sienna Miller and 4000 other hacking victims.

[DCKit]

6. "It is less than a fifth of the $580 million that Rupert Murdoch paid..."

That IS good news.

[Joe Bacon]

7. Screwpert's just gushing that red ink

And he's also losing tons of cash on his iPad magazine, The Daily!

Screwpert can go drown in his red ink!

[qanda]

8. It is just awful

I had an account for about 10 minutes and then I deleted it. I have a hard time feeling any sympathy for Murdoch although I do feel bad for Tom, who will probably lose his job. :)

[marions ghost]

9. good luck selling that loser acquisition

I hope people boycott MySpace

Murdoch is toxic. Corporate criminal.