News Corp is considering a sale or spin-off of social network giant Myspace, a spokeswoman has confirmed.
“We are confirming all our strategic options for the business,” she said.
Myspace CEO Mike Jones informed his employees of the strategic review on…
News Corp is considering a sale or spin-off of social network giant Myspace, a spokeswoman has confirmed.
“We are confirming all our strategic options for the business,” she said.
Myspace CEO Mike Jones informed his employees of the strategic review on Wednesday, a day after the site cut half of its staff to stem losses, reported Bloomberg.
News Corp, which acquired Myspace for US$580m in 2005, is reportedly keen to offload the group after its unit that includes the site made an operating loss of US$156m in the three months to 30 September, 2010.
