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. 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.
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MySpace Up for Grabs
Posted by: Rob Spiegel January 13, 2011 12:20 PMMySpace 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. 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.