Activision Blizzard CEO Seeks Controlling Stake in MySpace

Paul Lilly

Remember MySpace? It was the digital playground everyone was playing on until all the cool kids headed to Facebook, sparking a mass exodus and leaving MySpace as the social networking site that once was. MySpace still exists, only it's a shadow of what it once was, and News Corp. would like nothing more than to sell it off. As it turns out, News Corp. may have found a most unlikely buyer.

According to Reuters , an investor group including Activision Blizzard Chief Executive Officer Bobby Kotick is making a bid for a controlling stake in MySpace. Activision, as you know, is best known for its Call of Duty franchise, but Kotick's involvement is entirely personal and has nothing to do with the game publisher, Reuters' sources say.

Kotick and the rest of his investment group aren't the only ones chasing MySpace, but they are the frontrunners. At this stage of the discussion, News Corp. would retain an equity stake, likely around 20 percent. It's unknown how much money would change hands, but it's safe to say News Corp. would receive significantly less than the $580 million it paid for MySpace back in 2005.

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