Murdoch To Ditch MySpace For Yahoo Share?

News Corp. boss Rupert Murdoch appears ready to ditch control of MySpace in favor of a 25% stake in Yahoo Yahoo!according to key industry sources including Marketing Pilgrim’s Andy Beal. In exchange for selling MySpace to Yahoo for the princely sum of $12 billion, Murdoch’s company would gain partial ownership of Yahoo (that amount has been reported to be a 30% share by the UK Times).

First Facebook, Now Myspace?

The news of a possible deal comes after Yahoo backed off from purchasing MySpace rival Facebook last fall when the price of Facebook pushed past $1 billion. Facebook has been steadily gaining ground on MySpace, but the Mark Zuckerberg-led company has decided to remain independent a decision that could quickly change if MySpace becomes part of the Yahoo network.

A Twenty-Fold Profit For News Corp!

For Murdoch, the sale of MySpace to Yahoo would be a watershed event. Two years ago Murdoch paid $580 million for MySpace so the $11+ billion dollar profit would come in handy for News Corp. as it battles the General Electric/Pearson/Bancroft Family coalition for ownership of Dow Jones (owner of the Wall Street Journal).

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The Hidden Value Of Your Online Work

“I’ve decided to shelve my site for awhile because the new job is taking up all of my time. I’m even considering deleting most of my pages and I may not renew my domain.” When I learned that a friend was planning to shutter his website, I wasn’t too surprised. He launched his first site […]

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