Myspace Eyed by Investor Group

News Corporation has been trying to get rid of the money pit that is Myspace for months now. As time ticks down on its fiscal year (it ends June 30th), a group of investors has apparently emerged as the frontrunner to acquire the site. The Wall Street Journal reports that the group, which might include an executive from Activision, features three other parties:

Some other suitors who have remained interested in recent weeks include private-equity firm Criterion Capital Partners LLC and social networks Tagged Inc. and myYearbook, according to other people familiar with the matter.

Greg Tseng, CEO of Tagged, seems genuinely interested in taking over the site. Tseng issued a statement explaining he “would be excited to take MySpace back to its original roots as a place to meet people.”

We’re not sure, but we think there’s another online “place to meet people” that might offer some real competition to Myspace. We have staffers looking into it, and we’ll update you when we know for sure.