News Corp. Might Only Get $30 Million in Myspace Sale

By Chris O'Shea Comment

We haven’t heard any updates on the rumors of massive firings at Myspace yet today, but there’s more news on the possible sale of the site: According to The Los Angelese Times, Myspace will be sold for between $20 and $30 million.

That’s a very, very small return on the investment. Back in 2005, News Corp. paid $580 million for the site, and apparently was hoping to get an offer of at least $100 million. That hasn’t happened. The leading candidates to purchase Myspace are only offering a fraction of that.

We’re betting that the holiday weekend for execs at News Corp. and Myspace can’t come soon enough.