News Corp Weighing Strategic Options For MySpace

Posted Feb 2, 2011

News Corporation (NASDAQ:NWSA) is currently weighing their options for social network subsidiary News Corp is considering selling off the social network outright or retaining partial ownership. Either way, News Corp. has further indicated that they are not the best owner for MySpace to fully flourish.

?With a new structure in place, now is the right time to consider strategic options for this business,? stated News Corp. 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.? There has been a lot of interest in MySpace from industry players and financial players domestic and abroad.