Rupert Murdoch doesn’t like to lose money, which is why he’s once of the richest and most influential blokes in the world. What he does do, is when he sees something that isn’t performing financially, is he kicks it out of the NewsCorp litter and tries to get a buck for it. That’s what he’s in the process of doing with the unruly child that was Myspace, for today it is officially up for sale, where the most interest will be in just how much money he will have lost overall on the internet tumbleweed.
Like an abandoned city, Myspace was bought by Murdoch for $580 million in 2005 when it was a thriving internet city, but now it’s a ghost town. Myspace will be opening its books to potential buyers, who are rumoured to include internet video site Vevo and private equity firms Providence Equity Partners and Silver Lake Partners.