Myspace Has Just One Bidder, Sources Say

The tragic tale of once successful Myspace may finally come to an end.

According to All Things Digital, an investing group including Activision Chairman Bobby Kotick is in final talks to take over the site. ATD adds that Myspace owner NewsCorp is likely to hold onto about 20 percent of the site.

However, sources close to the deal also warned that it has not yet been finalized and could still fall apart.

News Corp paid $580 million for Myspace back in 2005, but the site has tanked since Facebook's rise, even with an attempted makeover into an entertainment hub. Recent numbers have shown traffic in steep decline.

Still, the most current reports said that News Corp was hoping to get at least $100 million by selling off the Myspace. Sources indicate that these numbers will not be met.

Since News Corp announced that the site was open for takeover, companies including Vevo, Zynga, and a few others were rumored to have been interested. These deals have not worked out, according to ATD.

Comments

[jayes]

09:28 PM on 06/22/2011

The tagling: Myspace | Social Entertainment

"Myspace is the leading social entertainment destination powered by the passion of fans. Music, movies, celebs, TV, and games made social."

In other words, "help!" They teach you how to write that garbage in business school.

I wouldn't buy it.

[hedah]

08:12 AM on 06/10/2011

Problem with MySpace is the vulgarity in it !

[CaroleK1970]

02:35 AM on 06/10/2011

soon FoxNews will go the way of myspace

[Iratus et Confsus Sum]

10:12 PM on 06/09/2011

What in the world does Bobby Kotick want with MySpace? Is he going to try and turn it into some new feature in a Call of Duty game? This makes no sense...

[StupidityIsGrace]

08:35 PM on 06/09/2011

NewsCorp owns MySpace? For how successful Fox News is, you'd think they could handle a website.

[benji85]

09:21 PM on 06/09/2011

They can't fearmong as easily to tech-savy kids.

[Hypnos Rises]

08:14 PM on 06/09/2011

I lasted a week there, so boring. A seedy bar with desperate people.

[Ramon Moreno]

01:06 AM on 06/10/2011

You just described Earth.

[CaroleK1970]

02:38 AM on 06/10/2011

more like the Republican Party

[bertha112]

07:45 PM on 06/09/2011

I would have guessed 0.

[chicagoian9]

07:08 PM on 06/09/2011

Went on myspace for the first time in years, to close my account. Visiting the site was like visiting a grave yard (or ghost town, whichever you prefer).

[ChicoHash]

07:01 PM on 06/09/2011

$100 Mil? Are you joking? I'd offer $35 for it, and that is just for the name.

[abuckley23]

06:33 PM on 06/09/2011

My Space still exists??