Though MySpace has the taint of a spectacular loser, the fact remains that the site is still the second-most-popular social network. News Corp. may not want much to do with it anymore -- rumors of a possible sale are in the air -- but some other company might find a way to parlay MySpace's strength as a social entertainment network into profitability.
MySpace CEO Mike Jones reportedly told employees on Wednesday that News Corp. , parent company of the once-giant social network, was exploring strategic options for its possible spinout, sale or merger. The talk of a possible sale followed news that MySpace was laying off 47 percent of its workforce -- about 500 employees.My Space did not respond to the E-Commerce Times' request for comments by press time.
Rumors about the troubled company have been circulating for some time. Last fall, MySpace released a new layout, part of a new plan to focus on music pages and entertainment while leaving social networking to the big dog, Facebook.
MySpace continues to get significant traffic, though nothing like in its glory days.
"They're still the second largest social network in the world," said Gallucci. "They still tend to be one of the go-to places for new bands and entertainment. They're still getting 25 millions hits a month."
MySpace may be a nifty property for the right buyer -- even if it does look tattered.
"It's a nice opportunity for somebody else," said Gallucci. "CBS has been buying Internet sites. Maybe they would be interested. I don't think it would make sense for Microsoft or Google."
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