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MySpace CEO Admits Sale, Merger, Spinoff Possibilities

Future of social network undecided

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In an attempt to increase its appeal, homeowners often clean, repaint, and recarpet a house before trying to sell it.  And similarly, following a talk by CEO Mike Jones, it’s starting to look more and more like a significant overhaul and major layoffs at MySpace are geared towards helping News Corp. get rid of the property.

This doesn’t quite count as breaking news; in early November, Chase Carey, the COO of News Corp., indicated that MySpace’s losses "are not acceptable or sustainable."  We then speculated that layoffs, a sale, or even a shutdown might occur.

Also, to be clear, nothing’s been decided (or at least officially announced) just yet.

Mike JonesStill, a MySpace spokesperson told Andy Fixmer and Sarah Rabil after Jones held a company-wide meeting, "News Corp. is assessing a number of possibilities including a sale, a merger and a spinout."

This situation will definitely bear watching.  Despite having fallen behind Facebook, MySpace still commands a large audience, so a lot of people will be affected.  Bands, in particular, continue to make use of the site, meaning how folks find and listen to music online might change.

We shouldn’t forget about MySpace’s remaining 500 or so employees, either.

MySpace CEO Admits Sale, Merger, Spinoff Possibilities
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  • Chris Crum

    That audience will certainly be worth something to some company.