Only a few weeks after the rumour being floated, it appears that Rupert Murdoch’s News Coporation is set to try and reclaim some of the $580 million it paid for the once mighty company in 2005, which now remains as an embarrassing loss maker on its financial ledger. After recently slashing staff, closing its Australian office, and refusing deny that it might be either shut down or sold, sources close to the matter have indicated that the company Allen & Co was appointed to field offers on a buyout of the white elephant.
One of the interested parties in acquiring Myspace off the internet auction block in JNJ Mobile, who’s Chief Executive Justin Siegel told an interviewer that he thought it would go for between $50 and $200 million. He told an interviewer “I would be willing to hazard a guess the price is between $50 million to $200 million.
They have not circulated the sales package yet.” No matter what price it is flogged for, it’s sure to upset Rupert Murdoch, who hates losing money and as his print media empire tumbles in value, you wonder if the sale of Myspace for a massive loss might be the tipping point which sees teh collapse of the News Corporation empire into a number of different entities.
