MySpace considers Vevo merger
March 29, 2011
News Corp has held talks over giving up control of Myspace to Vevo, the music video site owned by several of the world’s biggest music labels.
After kicking off a strategic review looking to sell or spin-off the declining social networking website last month, News Corp initially approached Vevo about acquiring Myspace, according to reports.
This offer was reportedly rebuffed, with talks now focusing on exchanging Myspace for a stake in a new venture with Vevo, which is owned by Universal Music, Sony Music and Abu Dhabi Media Company.
Sony and Universal are also investors in Myspace Music, the part of Myspace that streams songs online.