News Corp is exploring strategic options for its MySpace Web site including a sale or a spinout, the company said on Wednesday, a day after the former social networking high-flyer slashed nearly half of its staff.
News Corp, which paid $580 million for MySpace in 2005, believes a spinout would be the most logical route, a source familiar with the matter told Reuters. That option would likely entail someone from the venture capital or the private equity community investing in MySpace, thereby altering the current ownership structure, the person said.
News Corp, which paid $580 million for MySpace in 2005, believes a spinout would be the most logical route, a source familiar with the matter told Reuters. That option would likely entail someone from the venture capital or the private equity community investing in MySpace, thereby altering the current ownership structure, the person said.
