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MySpace, Bebo Not For Sale

Owners standing by social networks

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It looks like two significant social networks aren’t going to change hands anytime soon.  Executives representing News Corp and AOL have, with different degrees of forcefulness, expressed their intentions to retain possession of MySpace and Bebo, respectively. 

Rupert Murdoch

Rupert Murdoch took the more blunt (and amusing) approach.  While at the Sun Valley media conference, he was asked about selling MySpace.  According to Reuters, the 78-year-old chairman and CEO responded, "Hell, no."

So, although this shouldn’t come as a real surprise, it looks like News Corp isn’t letting Facebook’s success get to it too much.

As for AOL and Bebo, the $850 million acquisition that transpired between them has garnered criticism from the beginning, and many people thought that the Time Warner-AOL split would lead to Bebo’s (re)sale.

But that’s apparently not happening, either, since AOL CEO Tim Armstrong "told Reuters on Thursday that Bebo still has ‘great value’ and that it will be moved to a Ventures unit of the online company so that work can be done to improve the site."

Unless Facebook goes public or somebody finally buys Twitter, then, the social networking world should stay pretty much the same for a while.

MySpace, Bebo Not For Sale
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  • http://blogtoread.com/ Cell Phone blogger

    What is a Bebo? Is that just one more of AOL’s failures? I honestly had never heard of it until now. You would think with all their billions, they could do something right. Why don’t they take input from us instead of flushing so much money down the toilet?

  • http://www.ambertilesmaroochydore.com George

    I don’t think its really that much necessary at this time. Changing ownership or share it with other didn’t bring out much till now. I’m glad they made the right decision.

  • http://newman.net.nz Philip

    I guess that you’ll only know the Bebo brand if your between the age of 12-18 because most older people have flocked to FaceBook. Perhaps other social networking sites need to start looking at what the successful social networks are doing and follow in their foot steps.

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