News Corps: Myspace to be sold
News Corp is currently soliciting bids for its Myspace network. The media conglomerate expects to receive about $100 million, which is just one-sixth of its 2005 value.
News Corps is likely to receive at least five bids in total. This was reported by Handelsblatt on Handelsblatt.com on Wednesday. According to a person familiar with the matter, the bids would value the Facebook rival at over 100 million. The bidders are said to include the investment companies THL Partners, Redscout Ventures and Criterion Capital, which owns the social network Bebo. Chinese internet holding Tencent and Myspace co-founder Chris De Wolfe are also said to be interested.
