MySpace's parent company to put the former top dog social network up for sale?
Once-great social networking site MySpace is apparently to be sold off, according to its parent company News Corp Digital Media. A spokeswoman for the company confirmed that News Corp is "assessing a number of possibilities, including a sale, a merger and a spinout".
Earlier this week we reported that MySpace was laying off some 500 staff, or just under half of the company's total number of employees.
MySpace has been struggling since the popularity explosion of Facebook to stay relevant, and last October the site relaunched itself as a "social entertainment destination", with MySpace CEO Mike Jones stating boldly that the site was "not a social network anymore".
Since its redesign MySpace has reported that around 3.3 million new profiles have been created, putting the number of users of the site at roughly 70 million - still a whopping 430 million short of Facebook's global monopoly.