MySpace Being Sold: Is It The End?

The social networking site MySpace has finally been put up for sale by News Corp, with the company wanting what is believed to be $100 million. Should a buyer be found, will they continue to use it as it is now or completely change it, could this finally be the end for MySpace?

Mashable has reported that potential buyers include Redscout Ventures, Thomas H. Lee Partners and Criterion Capital Partners LLC. News Corp took the decision to put MySpace up for sale after disappointing earnings figures last February. The sale will be at a massive loss as they acquired the site for $560 million back in 2005, as Facebook was just starting out.

It is clear that MySpace will not be able to compete with Facebook, so you ask what the buyer will do with the site? It seems unlikely they will continue to run it as it does now, at losses and with weak figures. The most likely outcome is that the site will be merged into another company or changed, if this happens then MySpace as we know it will probably come to an end. It must be for the best though?

MySpace has had its time and is the social networking force of the past, being utterly destroyed by the rise and rise of Facebook. MySpace was dominant up until around 2008, when Mark Zuckerberg’s creation started to grow, and then virtually their whole user base jumped ship over to Facebook. Is it possible MySpace can make any sort of revival under new ownership? Leave us your thoughts in the comments.