News Corporation media group of Rupert Murdoch, confirmed Wednesday, February 2, he was looking for a new owner for the social network MySpace. "With a new emphasis on content and a new structure, we believe it is the right time for News Corp. to explore strategic options" for MySpace, said the group's chief operating officer Chase Carey during a conference on the occasion of the presentation of quarterly results.
"We recognize that the plan allowing MySpace to reach its full potential may be better developed" with a new owner. MySpace, bought $ 580 million (421 million euros) in 2005, when it was the first social network, has since been largely overtaken by Facebook, which has five times more users.
Large downsizing Last month, MySpace announced the removal of nearly half its workforce, or five hundred posts after the new positioning of the site as a venue for lovers of cultural events. An analyst with Wedbush Securities, Lou Kerner, had estimated that it would help to prepare a sale.
Accounts in the second quarter of fiscal offset by News Corp., MySpace's results appear in a category with vague contours, "other" operating losses which were dug from 125 to 156 million dollars (91 to 113 million euros). This deterioration is largely due to "a decline in advertising revenue and search on MySpace," the group said. 
"We recognize that the plan allowing MySpace to reach its full potential may be better developed" with a new owner. MySpace, bought $ 580 million (421 million euros) in 2005, when it was the first social network, has since been largely overtaken by Facebook, which has five times more users.
Large downsizing Last month, MySpace announced the removal of nearly half its workforce, or five hundred posts after the new positioning of the site as a venue for lovers of cultural events. An analyst with Wedbush Securities, Lou Kerner, had estimated that it would help to prepare a sale.
Accounts in the second quarter of fiscal offset by News Corp., MySpace's results appear in a category with vague contours, "other" operating losses which were dug from 125 to 156 million dollars (91 to 113 million euros). This deterioration is largely due to "a decline in advertising revenue and search on MySpace," the group said.
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