News Corp Might Keep Part of Myspace

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By Chris O'Shea Comment

Despite Myspace continuing its freefall, The Wall Street Journal is reporting that News Corporation is seeking a deal where they retain a part ownership of the website.

The company has hired Allan & Co. to advise them on possible deals, but so far, it’s not going well. So perhaps News Corp is willing to keep part of Myspace as an incentive to investors, who would otherwise be unwilling to take on such a money pit.

There really can’t be that many people or companies out there looking to invest in a property that lost $156 million in last year’s 4Q, even if it let’s you put blingees on your profile.