News Corp has admitted it’s looking to sell off the troubled social network, MySpace, which has seen its traffic and member numbers dwindle due to Facebook’s growth.
MySpace spokesperson Rosabel Tao has told Bloomberg that the company is now looking for some prospective buyers.
“News Corp is assessing a number of possibilities including a sale, a merger and a spinout [sic]. The process has just started,” Tao said in the interview.
Analysts suspect News Corp wants to unload the site as quickly as possible given it’s expensive to run and delivers little in return. The site’s traffic has plummeted and an October redesign has done little to reenergise its base.
Last week the company announced 500 jobs would be axed. The Australian unit is also reported to have lost employees.
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