After reports surfaced that News Corp. is considering selling Myspace, a News Corp. spokeswoman has confirmed that the company is exploring “strategic options” for Myspace. News Corp. purchased Myspace in 2005 for $580 million. Since then, the social networking site has struggled in comparison to its competitor, Facebook.
Reports that News Corp. was looking into options for Myspace surfaced after the social network cut 500 employees, which is nearly 50 percent of its staff. The Wall Street Journal, also owned by News Corp., reported the Mike Jones, chief executive of Myspace, had told employees in a companywide meeting on Wednesday that News Corp. was exploring a sale, merger, or spinoff of Myspace.
According to a person familiar with the matter, News Corp. has only just begun the process. The company plans to meet with potential partners in the near future.
Lou Kerner, a Wedbush Securities social media analyst, felt the layoffs were a likely indication that a sale of Myspace is possible. "I think this is likely a first step to selling the asset," Kerner said. "It certainly makes sense for News Corp. to take a hatchet to the company as preparation for a sale so when somebody acquires it that's not the first thing that they have to do." he said.
Myspace should have been everything that Facebook is, I wonder what happened.
MySpace, 2008 had many good features going for it. MySpace, trying to give more surface area for advertising crowed out the features and the ease of use. It choked the look and feel. Users were voicing their feelings, about loosing their histories and photo comments. MySpace did nothing. The new owners and operators will have a tough job to get "users friends of MySpace " back. Sad story to such a popular social net work site.
Myspace was cool for a while. It was great for giving us the ability to "pimp" your profile, Follow...ahmmm, I mean visit your favorite artist page and have them as Top Friends, (rip) listen to their latest singles, have their songs auto play on your profile and also Embed a cool animated message or photo to someones profile or pic was nice.
But those very cool features are also the ones that made me feel disgusted about MySpace. Having to wait a long time for a persons over the top custom profile design to fully load before being able just to add them as friends was just horrible, not to mention the auto playing songs and embedded auto playing music lists on their page and on pic comments just made me had it. There was no control, it just got out of hand. Also my browser was crashing a lot due to Myspace.
FaceBook is light years ahead of any social network that I've been part of. Its simple, light and intuitive. What I Like most, is that people actually use their real names, unlike MS, who made having an alias cool. So I've been able to find almost all my school buddies, old friends, Ex-girlfriends and meet family members I never knew I had. FaceBook Rules...
Oh yeah , and the Contest are awesome!!
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I don't know who would want to buy it. Its more like rats leaving a sinking ship these days. I guess if your under the age of 16 myspace is still cool.
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