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Wednesday, February 02, 2011

News Corp. Says It's Ready To Sell MySpace

In an earnings call today, News Corp. officially stated it plans to sellMySpace. During the call, COO Chase Carey said that “now is the right time” to attempt to place the social network “under a new owner.”
MySpace has undergone drastic changes in the past year, including aground-up redes ign, total repositioning as a media company rather than a social network per se, renegotiation of its advertising deal with Google (a key part of the site’s revenue), and a staff shuffling that saw more than one key executive relocating to a new venture.
News Corp. Says It's Ready To Sell MySpace
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