A succession of mistakes made the MySpace this white elephant that cost millions of dollars, but that now seems to be immersed in an unprecedented crisis (and no money coming in , which is even worse). So much so that the senior management of News Corp., the media conglomerate that owns MySpace since 2005, has already given the order: we must get rid of the dot-com company as soon as possible.
Sources Reuters involved in the problematic situation MySpace told the news agency that News Corp is studying two alternatives to get rid of the social network. The first one would be the most practical: sell the service. It only remains to find some crazy buyer interested in paying a few million dollars for a company that is going very bad shape, losing badly to Facebook.
As Rupert Muroch, the titan of communications that controls News Corp., does not like to lose money, it is highly likely that it does not open hand to collect something close to $ 580 million for which MySpace was purchased six years ago. Value that no one would be willing to pay, I believe.
The second option envisioned by News Corp is to turn MySpace into a separate company that does not depend so much of the parent company. The only way to do this is to find some investor who enters the business, putting more money on MySpace and decreasing the shareholding of News Corp. This situation is similar to AOL, which initially was related to Time Warner, but then again became an independent company.
After modifying the MySpace brand for something completely crazy and then reposition the site for something back to the public 35 years or more interested in music, News Corp. is seen handcuffed on what else to do for MySpace back succeed. To complete, about 500 employees who were in danger of going to the street were turned away on the day following the rumor appeared.