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Apr 27, 2011

MySpace Will be Sold

After buying MySpace for $580 million five years ago, News Corporation will sell the dying social network at a steep discount, with bids due this week. But don't even think about bidding below $100 million. MySpace has its dignity!

One of MySpace's potential buyers, which include a Chinese internet portal and various private equity firms, told the Wall Street Journal that News Corp. has set a $100 million floor on bids for MySpace. Because apparently News Corp. chairman Rupert Murdoch will gladly take a $480 million bath on the value of MySpace, but they absolutely refuse to take a $481 million bath. OK!

In fairness, News Corp. probably did fine on MySpace when you factor in the $900 million in MySpace advertising it sold to Google five years ago. Did fine, that is, unless News Corp. somehow manages to blow even more of that money trying to keep MySpace alive on its own books.


32 comments:

casperch said...

Myspace has lost its place as a social network, but it is still the major site as a collection of promo sites for bands.

I think music companies should buy the place, rebrand it and acknowledge the fact that facebook and twitter are the major social networks of the time.

Jay said...

rip myspace. :(

**Hype.Planet** said...

Too bad -_-

Alphalpha said...

Ha, I remember when people were like, "What? You use FACEBOOK?" Now the tables have turned.

GetItFirst said...

facebook is and was better anyway

Jordan Vargas said...

I agree with GetItFirst, Facebook was always winning. Toodaloo MySpace.

Zombie said...

Its about dang time!

Dave said...

pretty sad, was the first big social networking site. hopefully whoever buys it turns it around and makes it profitable again

duffboi said...

Never did take to myspace really. hehe

The Radical Chemist said...

This reminds me of RedBox VS Blockbuster. They both do about the same thing... but one does it WAY better.

King Elysium said...

Myspace is outdated

ed said...

myspace is still around?

Kicking Rocks said...

myspace is dead....no one wants that garbage lmao

following

LaserDollars said...

Myspace... takes me back lol

daniel said...

Google "Facebook is" and see most popular results then Google "Myspace is" haha

Dr Shankums said...

I remember when everyone was all about who's on whose top 8...Oh well, life will never be that way again.

TMH said...

Exactly my thoughts casperch. Myspace would be great if it were to be redone for more of a musical scene to help upcoming bands gain publicity.

I bet the creators of myspace aren't to upset though, you can't complain over 580 million lol

Kamchatka said...

I remember when a lot of my friends were getting into myspace, but it never really held that much appeal to me. Facebook was truly revolutionary.

Skeng said...

Madness, oh well I can't remember the last time I was on myspace

Finn Phoenix said...

Yeah it was dead a long time ago.

James said...

Ahh i've had some good memories on myspace.

Potholderz said...

Myspace is really just for bands now. I think it still serves a purpose but not as a viable social network.

MRanthrope said...

sad. I loved that golden era of Myspace, from the early to mid 2000's.

Fortune said...

About time. Its like I'm really in 2001.

Astronomy Pirate said...

I thought it died when News Corp. bought them? Oh well, its dead and buried in my book.

Agustin Creevy said...

there's no way myspace can came back from death, it is a useless social network now

-E- said...

i would buy myspace...for $100

=dgrphx= said...

myspace died when they banned html

Jose Cuer said...

It cracks me up that someone actually wanted to buy that shite website. Whoever made that purchase really lost out.

AllenTesch said...

I agree that if it was changed to focus more on artist or band promotion it might still have some value.

MB said...

myspace is lame, oh well

Atley said...

Myspace is to Facebook as The paper back book is to E-Readers.