News Corp. Would Consider Selling MySpace

Before you go, we thought you'd like these...
Before you go close icon
Media giant News Corp. (NWS) would consider selling MySpace or entering into a partnership after reworking the social network into an entertainment website, Chief Operating Officer Chase Carey told Reuters.

"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.

Sponsored Links
News Corp. overhauled MySpace in the face of intense competition from social media sites such as Facebook and Twitter. MySpace received 60 million visitors in October, compared with 151 million for Facebook.

The site now focuses on entertainment such as music and videos.

Any sale or merger would have been difficult before the revamp, Carey said.

"I think those options would have been pretty limited and I think probably would have undervalued it against what we think it can be," Carey said.

Carey said he expects the site to turn a profit within quarters rather than years.
Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading