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Thursday, May 5, 2011

MySpace For Sale: The Bidding Begins [REPORT]

Myspace for Sale! That’s right; one of the giants of the social networking industry is up for grabs once again, with the asking price of just 100 million dollars. This, however, is hardly surprising for anyone who witnessed the rise and fall of the once mighty entity.

As they say, space is the final frontier. Quite sadly, this just wasn’t to be for one of the pioneers of social networking. Over time Myspace just became too cumbersome and ultimately limiting for people looking to enhance their real-life interactions with an online experience. And once you are limited in space, you begin seeking a way out.

Until the End of Space


A handful of venture capital firms and other companies are expected to make News Corp. offers for one of its most disappointing properties: MySpace.

News Corp. declared it was ready to sell MySpace in an earnings call in February. At that time, in spite of significant layoffs and a massive redesign, the company “recorded a $275 million pre-tax charge for the impairment of goodwill related to the Digital Media Group and an organizational restructuring at MySpace.”

MySpace For Sale: The Bidding Begins [REPORT]

If your on the East Coast, be sure to sign up for MusicRVA Social Network!

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