Fire Sale: MySpace On the Auction Block

 

Do the math:
$580,000,000 – $100,000,000 = a $480 mil. loss.

 

By Fred Mills

 

Media emperor Rupert Murdoch has put MySpace up for sale,
apparently having tired of the once-popular property having become the go-to
item for people seeking a reliable butt of Web 1.0 and tech jokes. (As in, “That
thing’s so clunky, slow and difficult to operate, it’s the MySpace of [insert website, widget, app, etc. of your
choice
].”)

 

Billboard.biz is reporting that Murdoch’s News Corp, which
bought MySpace in 2005 for $580 million, is “looking for initial bids for
MySpace by the end of the week… [and is] looking for minimum offers of $100
million.”

 

While there are reportedly “interested parties” the report
notes, significantly, that the number of them has “declined” since February,
when News Corp let potential investors take a peek at the books.

 

Or maybe those suitors simply walked away from the deal when
they took a peek at the actual MySpace site, which remains among the clunkiest,
slowest, and most difficult to operate of all music and media outlets in the
known cyber universe. (The average person can go to the bathroom and take a
satisfying dump in the time it takes a MySpace page to open up.) And hey, how
about those nifty music players! Maybe it’s just time to shoot this filly and
put her out of her misery – the glue factory awaits.

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