MySpace

News Corp has finally managed to offload MySpace, a website it bought back in 2005 for $580 million, selling the site for just $35 million (£22 million).

MySpace looks set to be sold this week, with the social networking site to be bought for a fraction of the $580 million News Corp paid for it back in 2005.

In talks with Vevo about possible new joint venture

Cross-platform chat flourishes

It's official, MySpace has announced that it is to cut half its workforce, some 500 jobs, in a massive restructuring of the site.

News Corporation is rumoured to be considering laying off half of MySpace's workforce, which currently totals 1,100 employees.

Gran loves her Facebook

News Corp is looking at its social media options, with reports that the company is open to offers for MySpace.

MySpace has teamed up with Facebook in a ground-breaking move to gain and keep users.

MySpace is preparing itself to link-up with Facebook, with news that the site is to integrate Facebook Connect into its pages.