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News Corp. set to unload Myspace?

Joseph L. Flatley
February 3, 2011
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We hate to say it, but we could see this coming a mile down the road: After Myspace (or, as the kids say, my[_____]) relaunched itself as an entertainment portal to little effect late last year, and then the company went and laid off fifty percent of its staff, what's the next step? Tears -- a flood of bitter, bitter tears. And after that? Well, it looks like News Corp. is considering a couple options. As COO Chase Carey said on a recent earnings call, "The new MySpace has been very well received by the market and we have some very encouraging metrics. But the plan to allow MySpace to reach it's full potential may be best achieved under a new owner." Continuing with the theme, he told Paid Content the following: "There's been a lot of interest, because there's been some indication we're pursuing this path. We'll consider all options... it could be a sale, it could be an investor coming in to it, it could be us staying in with a restructured ownership structure with management." Now, that's a whole bunch of "corporate speak" there, and while the future is up in the air, we're fairly sure that if you called our man Chase and offered him cold, hard cash, you could probably take Myspace off his hands at a fairly reasonable price. Make sure you ask him to throw in the Blingees for free.

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