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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:

  1. casperchApril 27, 2011 at 5:29 AM

    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.

    ReplyDelete
  2. JayApril 27, 2011 at 5:36 AM

    rip myspace. :(

    ReplyDelete
  3. **Hype.Planet**April 27, 2011 at 5:38 AM

    Too bad -_-

    ReplyDelete
  4. AlphalphaApril 27, 2011 at 5:49 AM

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

    ReplyDelete
  5. GetItFirstApril 27, 2011 at 5:54 AM

    facebook is and was better anyway

    ReplyDelete
  6. Jordan VargasApril 27, 2011 at 6:19 AM

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

    ReplyDelete
  7. ZombieApril 27, 2011 at 6:56 AM

    Its about dang time!

    ReplyDelete
  8. DaveApril 27, 2011 at 7:54 AM

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

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  9. duffboiApril 27, 2011 at 8:16 AM

    Never did take to myspace really. hehe

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  10. The Radical ChemistApril 27, 2011 at 8:20 AM

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

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  11. King ElysiumApril 27, 2011 at 8:22 AM

    Myspace is outdated

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  12. edApril 27, 2011 at 8:22 AM

    myspace is still around?

    ReplyDelete
  13. Kicking RocksApril 27, 2011 at 8:23 AM

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

    following

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  14. LaserDollarsApril 27, 2011 at 8:23 AM

    Myspace... takes me back lol

    ReplyDelete
  15. Daniel SmothermanApril 27, 2011 at 8:25 AM

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

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  16. Dr ShankumsApril 27, 2011 at 8:27 AM

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

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  17. TMHApril 27, 2011 at 8:34 AM

    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

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  18. AnonymousApril 27, 2011 at 8:35 AM

    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.

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  19. SkengApril 27, 2011 at 8:38 AM

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

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  20. DFPApril 27, 2011 at 8:39 AM

    Yeah it was dead a long time ago.

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  21. Splendid TVApril 27, 2011 at 8:49 AM

    Ahh i've had some good memories on myspace.

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  22. PotholderzApril 27, 2011 at 10:25 AM

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

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  23. MRanthropeApril 27, 2011 at 10:30 AM

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

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  24. UnknownApril 27, 2011 at 11:28 AM

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

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  25. Astronomy PirateApril 27, 2011 at 1:37 PM

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

    ReplyDelete
  26. Give EverythingApril 27, 2011 at 2:29 PM

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

    ReplyDelete
  27. -E-April 27, 2011 at 3:21 PM

    i would buy myspace...for $100

    ReplyDelete
  28. The Awesome AlienApril 27, 2011 at 4:39 PM

    myspace died when they banned html

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  29. Jose CuerApril 27, 2011 at 9:59 PM

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

    ReplyDelete
  30. AllenTeschApril 27, 2011 at 10:58 PM

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

    ReplyDelete
  31. Blogging SkaterApril 28, 2011 at 3:34 PM

    myspace is lame, oh well

    ReplyDelete
  32. AtleyApril 28, 2011 at 5:39 PM

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

    ReplyDelete