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Nov302010

News Corp To Sale MySpace, Said Chase Carey, Chief Operating Officer

Five years after spending $580 million to buy MySpace, News Corp’s Chase Carey said his company is open to a sale of the beleaguered site MySpace although they are pleased with its new direction as a social entertainment destination.

A sale or partnership are two of a number of options the company would consider for the once valuable social network site, before being usurped by Facebook.

In August, 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.”

Earlier this month, MySpace announced a partnership with Facebook, allowing users to register and log in to the site using their Facebook credentials.

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

[Source]

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