Los Angeles – News Corp. (NYSE: NWS) is open to the idea of selling off
MySpace, the social network it acquired for $580 million in 2005 which recently
underwent a rebranding as an entertainment portal, Reuters reported, citing
comments made by News Corp. COO Chase Carey.
"There are opportunities here
to do 20 things [with MySpace] but that doesn’t mean you’re going to do any of
the 20," said Carey, adding that offloading MySpace "would have been
largely a pretty tough sale process" before the recent rebranding was
completed.
"I think those options would have been pretty limited and I
think probably would have undervalued it against what we think it can be."
Related Links:
http://www.reuters.com/article/idUSTRE6AS3R920101130
