News Corp to sell MySpace: Sooner rather than later

At the beginning of January we told you that things were looking rather dismal for MySpace, the social networking site, when we heard that there were to be major cuts to the workforce. Then more recently we told how MySpace was one of the top most-blacklisted sites in 2010.

Now we hear news that News Corp. is looking to sell MySpace, and sooner rather than later, according to Jolie O’Dell over on Mashable. This came from a News Corp. earnings call where COO Chase Carey stated officially that the time was now right to attempt to pass on MySpace.

The news comes despite attempts to revitalize the fortunes of MySpace with an overhaul of the site, a different ad deal with Google and the reduction of overheads from the reduced workforce. A company rep, expressing disappointment in how MySpace has fared said, “results at MySpace have been below our expectations.”

There have been previous rumors of MySpace being sold by News Corp but as Carey said, “the plan to allow MySpace to reach its full potential may be best achieved under a new owner,” this seems to leave no further doubt. You can read more about this in an article by Dawn C. Chmielewski over on The Los Angeles Times, which reports how a number of other parties are said to be interested in MySpace with Carey saying, “The interest to date ranges from A to Z: industry players, financial players, foreign to domestic.”

It will certainly be interesting to see how developments with MySpace will pan out over the coming months and we wonder if anything can be done to bolster what seems to be an ailing social network. Let us know what you think by sending us your comments please.

  • http://www.simplyzesty.com Niall Harbison

    I really think they have to. It's just dead weight at this stage and a strain on resources. To think that just a couple of years ago it had nearly if not more hype than facebook! Crazy!

    • debbielt

      Completely agree with you Niall. It seems like rather a dramatic fall from grace!