Yesterday’s financial results from News Corporation revealed that the company spent $275 million in the last quarter restructuring its digital media group, while writing down the value of some of its key assets. A big portion of those costs can be ascribed directly to MySpace, and its reinvention as a social entertainment service. It should come as no surprise, then, that News Corp has as good as issued a ‘come and get it’ message for potential buyers of MySpace. “With a new structure in place, now is the right time to consider strategic options for this business,” says COO Chase Carey. “The new MySpace has been very well received by the market and we have some very encouraging metrics. But the plan to allow MySpace to reach it’s full potential may be best achieved under a new owner.” He went on to say that News Corp has already had plenty of interest “from industry players, financial players, foreign to domestic”. 
Source: PaidContent 
Source: PaidContent

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