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Myspace bidding gets underway this week


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This week should see the first bids submitted for Myspace, following a several-week period where interested parties were able to scrutinise the social network’s latest financials and predictions. According to the Wall Street Journal, Myspace owner News Corporation can expect to field bids from around half a dozen bidders, including private equity firm Thomas H. Lee Partners, Redscout Ventures and Criterion Capital Partners – intriguingly the latter is also the owner of Bebo. Also thought to be interested is an unnamed Chinese internet company. The article also suggests News Corporation won’t accept bids of less than $100 million for the social network, which it bought for $580 million in 2005. An announcement of any deal is not expected until June.

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