News Corp Can't Sell MySpace, Looking into "Partnerships"
News Corp Can't Sell MySpace, Looking into "Partnerships"
Posted 06/06/2011 at 1:59pm
| by Ryan Whitwam
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As you are no doubt aware, MySpace has more or less fallen off most people’s radar. The once great site, acquired by News Corp in 2005, has been on the auction block for several months. The sticking point? No one seems to want it very much.
After seeing a few offers significantly below the minimum asking price of $100 million, News Corp has decided selling the faltering site isn’t an option. Instead, Murdoch and company have turned their attention to a “strategic partnership”. The exact nature of what this partnership might be is not clear, but we imagine it would need to involve a social property that people still frequently use. But who would be willing to sully their good name by getting in bed with MySpace?
The former social networking king has seen traffic drop dramatically in recent years. Hits are about half what they were just a year ago, and the site lost $165 million last quarter. News Corp paid $580 million for MySpace in 2005. It’s really become a money sinkhole for them. We wouldn’t be surprised if the site is just shuttered and sold off in bits before too long.
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Alex11
November 06, 2011 at 7:55pm
I still remember Myspace was the biggest social media site on the Internet back to 4 year ago. People were so interested to socialize in MySpace. And I heard Myspace using Google ads to make money online. Millions were a month were generated. But then Facebook suddenly became so popular that everyone want to use it and this directly affected Myspace. People seems to switch from Myspace to Facebook.
Ghok
June 08, 2011 at 11:59am
The only time I ever find myself on that page is when listening to a band that still has a page there. Aside from that I don't know anyone with a Myspace account anymore. Record labels like to make poor decisions, perhaps they could buy it?
d3v
June 07, 2011 at 9:55am
Its sad that these news organizations can't make money off a site that gets millions of US visitors every day. OTOH you have thousands of webmasters who make their living off sites that get far less traffic. So maybe they should reduce their expensive US based workforce and outsource their development offshore.
Scatter
June 07, 2011 at 9:35am
Maybe it's just me but I get a warm feeling inside when a mega conglomerate like News Corp purchases Myspace for over 500 million only to have it crash and burn in only a few short years.
Frank N Beenes
June 06, 2011 at 6:26pm
I never really used it much. Recently I wanted to put up some band tunes for friends to listen/download. Wow. That site is a mess. How they think anyone would use that broken pile is beyond me. Did they fire all of the programmers and keep the management?
<whisper> Fix it and they will come.....you dumb a** </whisper>
I Jedi
June 07, 2011 at 5:58am
You're joking, of course, right? A few months ago, here on MxPC, there was an article that basically talked about how the web programmers got FUCKED by management, as many of these workers went unpaid and/or fired after weeks of effort to revamp MySpace. No, your logical that if they, "fix it, they will come" is flawed. No one gives two shits about MySpace, no one. Newscorp would be better off cutting all further funding for this dead beast than continuing to potch it with a stick, so it'll move a few more feet before collapsing on its side once more.
dalant
June 06, 2011 at 6:23pm
Guess you shouldnt have bought it and whored it into the ground eh Rupert?
Hamburger
June 06, 2011 at 4:13pm
Heh, probably just like an old clunker car.. they'd probably get more money out of it if they'd just "part it out"..." LOL
MarioJP
June 06, 2011 at 3:52pm
It was cool until they changed to the new profile crap. Its a freaking mess!. thinking deleting this crap. No wonder no one wants to buy it becuase Its a POS. My yearbook is the new myspace or what Myspace should of become.
Jeffrey Jones
June 06, 2011 at 2:17pm
MySpace is an abomination. I'd give 'em $20 for it right now, just so I could delete it from the internet.
Holly Golightly
June 06, 2011 at 2:11pm
It is a shame to see MySpace just go like that. I still use MySpace exclusively over FaceBook, due to privacy concerns. I really do have hope and faith to see MySpace rise up again. At least MySpace is cool.
dalant
June 07, 2011 at 5:57pm
It's no where close to being better than facebook. If I cared about your decorating skills I would come to your house. I'd rather not have it thrown in my face with obnoxious page layouts that have malware virus's hidden in them.
Holly Golightly
June 07, 2011 at 10:38pm
Some people rather have a pretty page... Other people rather have a boring page with some black and white photo of their newborn while having no privacy at all. To me, privacy is number one, so I'd rather go with the prettier one.
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