Sunday, February 6, 2011

News Corp. Says It's Ready To Sell MySpace

Rumors of MySpace’s eventual sale to an entity outside the News Corp. family have been swirling for some time. But Carey’s confirmations in today’s call suggest News Corp., which bought MySpace in 2005 for $580 million, would prefer that sale happen sooner rather than later.

MySpace has been, as far as digital properties are concerned, a fixer-upper; and News Corp. has done a lot to fix it up. But are the site’s repositioning, reorganization and redesign enough to make it a good buy for another entity? Selling MySpace

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