Los Angeles – News Corp. has narrowed the field of suitors for its struggling Myspace social entertainment hub to one — an investor group that is said to include Activision chairman and CEO Bobby Kotick, All Things D reported, citing sources close to the situation.
News Corp. would retain about a 20% stake in Myspace in the deal, which reportedly would come in “nowhere near the $100 million that News Corp. reportedly sought,” according to All Things D’s sources.
Kotick would likely be investing as an individual, and need to obtain permission from Activision’s board to participate.
Another bid from music video portal Vevo is said to have foundered due to the complexity of its joint venture ownership structure.
http://tinyurl.com/6zxldfl (All Things D)