News Corp open to MySpace sale

Five years after spending $580 million to buy MySpace, a News Corporation executive has admitted the company is open to selling off the social networking site.

Reuters reports via The Sydney Morning Herald that a sale or partnership are among the options being considered. News Corporation chief operating officer Chase Carey refused to indicate how long his organisation would take to consider its next move, but indicated they were happy with MySpace's new direction.

In October, the once-popular social networking site unveiled a redesign, dropping the word ''space'' from its logo in favour of a blank space. The gap, it was argued, was “a space where people can express themselves, enabling users to personalize the logo and make it their own - just as they can through Myspace.”

Less than a month later, MySpace announced a partnership with Facebook, allowing users to register and log in to the site using their Facebook credentials. While many have predicted the demise of a site which once dominated the social networking landscape, Mr Carey has previously said he expects MySpace to become profitable sooner rather than later.

‘‘We think it can be a really interesting business. It has some real assets,'' he said at the Reuters Global Media Summit last week.

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