AUSTRALIAN SOCIAL MEDIA STATISTICS  |  SOCIAL MEDIA AGENCY  |  SOCIAL MEDIA EVENTS

News Corp ready to sell MySpace

on February 4, 2011 | MySpace | Comments (0)

News Corp bought MySpace in 2005 for $580 million, when the site was the most popular social network on the internet.

At this time Facebook started to gain more traction and by 2008 was the clear leader in social networking.

This equated to bad timing by News Corp, and a hugely successful product by Facebook – which has resulted in a continual decline for MySpace and obviously difficult times for News Corporation.

MySpace is always going to be worth big money (in the 100’s of millions), however News Corporation has now announced it is time to sell MySpace and will be looking for a buyer over the coming month.

It will be interested to see what happens with the site and fanbase through this period. We will keep you updated with any developments.

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David Correll : Editor and Founder of SocialMediaNews.com.au. I also run a Social Media Agency where I do consulting work and Social Media Management. Connect with me: Twitter | LinkedIn | Facebook or contact me here. Alternatively, you can send me an email at david@socialmedianews.com.au




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