Wednesday, April 27, 2011

MySpace goes on sale

The social networking site MySpace, owned by Rupert Murdoch, News Corp and in 2007 became one of the online reference sites for groups and musical artists, is on sale. The company expects to receive a dozen bids before the end of the week have ensured According to sources familiar with the matter told The Wall Street Journal, the company expects to receive before the end of this week the purchase offers a dozen companies venture capital.

Apparently, companies that are considering an agreement for the site of social communication and entertainment are the private equity firm Thomas H. Lee Partners, Redscout and Criterion Capital Partners LLC, owner of the social network Bebo. The company, which was acquired in 2005 by News Corp for an estimated value of $ 580 million (398 million euros), currently valued at no more than $ 100 million (68.5 million euros) despite Last year the company relaunched the site as a social entertainment site focusing on music, films and stars.

When Murdoch bought MySpace in 2005 was seen as a step forward in the vision of the future of News Corp, "as a company that adapts to a media business increasingly digital society", according to expert analysts. MySpace, along with Friendster, pioneered the social networking market between 2005 and 2007, but after early success MySpace fell and was overtaken by giant Facebook.

Murdoch has now directed his attention to Apple iPad as a platform for the future.

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