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Myspace Sale Considered

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Things just go from bad to worst for MySpace – earlier in the week it was reported that NewsCorp was seriously considering selling the former social networking website that went belly up because of the overwhelming popularity of Facebook which essentially took its place.

Although at one point NewsCorp believed that MySpace was a great investment because of its success at the time, things have changed drastically in the past year or so, leading them to shift their opinions about the website and whether or not they want to keep it still.
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Most people on the web agree that MySpace is pretty much only good for music these days.

A spokesman for MySpace initially told Bloomberg that they were considering selling off the website because of the fact that it just isn’t bringing in the kind of revenue that it used to due to the fact that advertising has all but dried up and nobody is interested in it as a social networking site anymore.

NewsCorp is headed up by the media giant Rupert Murdoch, one of the richest men on the planet and originally bought MySpace for $580 million in 2005 when it was at the height of its popularity.

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