News Corp Looking To Sell MySpace
MySpace is not a zombie, it’s not coming back to life. It whored itself out to advertisers, killing usability, and its dominance over early social media. Now after years under Fox News’ parent company, it’s for sale.
News Corp. chief operating officer Chase Carey admitted that the company is open to all options when it comes to MySpace
….telling investors that Myspace’s losses were “not acceptable or sustainable,” and hinting that if things didn’t turn around quickly, a sale or closure would be considered.
In either case, it would be a black eye for Rupert Murdoch, who paid $580 million for MySpace in 2005.
News Corp.’s digital media segment reported an operating loss of $156 million during the last quarter, due mostly to MySpace’s slump. Even an ego as big as Murdoch’s has a breaking point. (Via The Wrap)
If MySpace sells then it does have a small chance that it could recover and rebuild in a new way. I applaud MySpace for taking proactive and solid steps in the recent months. The change in look is a good start and adding the Facebook Connect feature has only helped traffic.
But unless MySpace is sold quickly and to a team with vision, it won’t be getting back up.
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