James Delahunty
4 Jan 2011 13:43
Reuters is citing a source close to News Corp in reporting that there are no ongoing talks regarding the future of the social entertainment site.
News Corp has revealed that it is open to a sale of the social entertainment site that still attracts 60 million users a month. CNCB reported on Monday that News Corp is on track to sell the website by mid-2011, but Reuters cites a source in reporting that there are no talks with any potential buyers at this time.
The company is to lay off more than half of its staff in its continued efforts to turn around the loss making venture. Following a successful relaunch of MySpace as a social entertainment site, rather than a competitor to $50 billion giant Facebook, Reuters reported that News Corp was open to a sale.
Back in November, News Corp COO Chase Carey told investors that MySpace had "quarters" rather than years to change its fortunes.