The deal is said to be worth $35 Million, which works out to be $1 per monthly visitor. Rupert paid $580 million for MySpace.
Amplify’d from www.bloomberg.com
News Corp. (NWSA) is closing in on a sale
of its Myspace social-networking website to Specific Media, the
owner of an online advertising network, for about $35 million in
cash and stock, said a person with knowledge of the process.
A sale would rid Rupert Murdoch of a money-losing Web
service that lost its lead in social networking to Facebook Inc.
after being purchased in 2005 in a $580 million deal. News Corp.
had sought about $100 million for Myspace after Chief Operating
Officer Chase Carey said in February that he wanted a sale
completed by the June 30 end of the company’s fiscal year.
See this Amp at http://amplify.com/u/a16bfl
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