These days, all seems like gloom and doom over at the MySpace headquarters. Earlier in the week, we reported that the once dominant social network has plans to slice its workforce in half for cost cutting purposes. Today comes word that News Corp. is planning to either sell or spin off the site.
MySpace spokeswoman Rosabel Tao told Bloomberg, “News Corp. is assessing a number of possibilities including a sale, a merger and a spinout,” Tao said. “The process has just started.”
If the company does opt for the spinoff option, MySpace will remain a News Corp-funded site, though the company will bring in partners to help MySpace work in a more entrepreneurial fashion, says Bloomberg.
A News Corp. spokeswoman would neither confirm nor deny the spinoff/sale plans. MySpace has suffered in the last few years as it has taken a backseat to the astronomical growth of Facebook.
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