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News Corp weighs MySpace options

Yinka Adegoke and Jennifer Saba Reuters 11/29/2010 18:08
News Corp weighs MySpace options - NEWS Corp - USA - Business - Technology - MySpace - Chase Carey - social networking


News Corp is open to a sale of beleaguered MySpace after a relaunch of the social network as an entertainment site, Chief Operating Officer Chase Carey told Reuters.



A successful revamp of MySpace -- still visited by around 60 million people in October, according to comScore -- could possibly pave the way for a sale.

A sale or partnership are two of a number of options the company would consider for the once valuable social network site, which has suffered in the face of competition from new hot sites like Facebook, which is visited by about 151 million people monthly, and Twitter.

"There are opportunities here to do 20 things (with MySpace) but that doesn't mean you're going to do any of the 20. If there's something there that makes sense you ought to think about it," said Carey.

MySpace has been the subject of recent speculation that News Corp is seeking to sell the site or partner with other digital media companies such as Yahoo and AOL Inc.



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