MySpace owners looking for over $100 million for site

Co-founder may cough up the cash

News Corp is readying the sale of MySpace and is looking for more than $100 million for the ailing website.

No longer a social network but now an entertainment hub, MySpace is up for sale by its owner News Corp and there seems to be a number of potential buyers ready to part with cash for the site.

One of the more notable (and still rumoured) people looking at the site is Chris De Wolfe, who is MySpace's co-founder.

Other parties interested include private equity firms THL Partners and Redscout Ventures.

Space saver

There's also Criterion Capital, which seems to have a habit of snaffling under-performing social sites as it already owns Bebo.

Whoever purchases MySpace will be paying almost a sixth less than News Corp did when it bought the website back in 2005.

News Corp paid $580 million, which looked like good money for a social-network at the top of its game.

But then Facebook came along and relegated the site, along with many others.

Via Reuters

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