New York – The Wall Street Journal reports that half a dozen
suitors are expected to submit bids for News Corp.’s (NYSE: NWS) Myspace by week’s end,
citing people familiar with the matter. Sources told The Journal that bidders
include private equity firm Thomas H. Lee Partners, Redscout Ventures and
Criterion Capital Partners, which owns social network Bebo.
News Corp. has also
reportedly held talks with "a Chinese Internet company" about Myspace,
while sources said that music video portal joint venture Vevo initially expressed
interest that has since "waned."
A prospective suitor told The
Journal that News Corp., which paid $580 million to acquire Myspace in 2005,
has set a minimum bid price of $100 million.
A deal could see News Corp. retain
an undetermined stake in Myspace, while plans for the service after it has been
acquired remain unclear, according to The Journal’s sources.