News Corp considering selling Myspace

Myspace's recent redesign appears to have received a lukewarm reception, as parent company News Corp is already looking into selling options, according to PaidContent. In an interview, COO Chase Carey admitted that "there's been a lot of interest" but News Corp will "consider all options" before making a move.

We’ll consider all options - not just a sale, it could be a sale, it could be an investor coming in to it, it could be us staying in with a restructured ownership structure with management. We think a fresh perspective would give them flexibility and an opportunity to get a new life consistent with the right-sizing of the product and the costs.

In previous discussions, Carey had told analysts that Myspace's redesign had been "well received" but "its full potential may best be achieved under a new owner."

The news comes following January's layoffs, reducing staff by 47%. Estimates place the decline in users in the region of 15% since last November. Meanwhile, Goldman Sachs announced last month that Facebook had reached over 600 million monthly active users, or 10% of the global population. Myspace has shown awareness of Facebook's stranglehold on social networking by introducing a Facebook Connect login service, allowing users to login with their Facebook account and transfer their "likes" over to Myspace. Facebook integration was unsuccessful for Bebo, however. A mere two years after purchasing the site for $850 million, AOL were forced to sell the site in 2010 for $10 million.

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17 Comments

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Shea J said,
Im so glad myspace failed under murdoch. He does enough harm to society as it is.

I couldn't agree more!

All internet crazes of the past should put up some cash to buy myspace. It'll be super cute:

ICQ and EarthLink; I'm looking at you!

it will be sold to some Russian or Chinese company, just watch, no European or american companies will want it

neufuse said,
it will be sold to some Russian or Chinese company, just watch, no European or american companies will want it

Na north koreans will snap this one in a heart beat

Redesign: Well Received -> Luke Warm -> There was a redesign?

I appreciate that they've tried to move more towards music social networking, but they're hardly the first to do it. If I were them I would cut their losses, a decline of 15% since November doesn't seem to bode well...