News Corp targets $100m+ for MySpace
April 27, 2011
Five or more bids to buy all or part of the MySpace social networking pioneer are expected, valuing the company at more than $100 million says the Wall Street Journal (a News Corp company).
Among the names expected to bid are private equity firm THL Partners, Redscout Ventures and Criterion Capital, which owns social networking site Bebo. Other names, including Chinese Internet holding company Tencent and
MySpace co-founder Chris De Wolfe, have also had a look at the company’s books to see if it’s worth a bid.
News Corp paid more than $580 million for Myspace in 2005, beating out other media companies.