Why are these men smiling?
Rupert Murdoch’s News Corporation is considering selling social networking site MySpace to internet search company Yahoo, the Times newspaper has claimed. The Times said that News Corp would want a 25% stake in Yahoo in return for MySpace, which it bought for $580m.
New chief executive Jerry Yang, who co-founded Yahoo, has pledged to revive the business but some analysts believe the firm is now a bid target.
And you have to wonder if Jerry Yang had this bid in his pocket when he agreed to return?
Yahoo is currently worth $37bn, meaning that News Corp would need to pay in the region of $12bn for a 25% stake.
Which also means that Murdoch’s purchase of MySpace will have appreciated 2000%.
Was about to post, So not going to happen Murdoch!
Then got to thinking, personally I haven’t used a single Yahoo webpage, utility, service, in over five years !
So perhaps it’s Yahoo that is on the decline.
Great, now News Corp will have even more control over the news media by influencing Yahoo News…
Great, So as Yahoo now own Flickr does that mean Murdoch will get his grubby hands on the copyright to our photos? This stinks.
MySpace isnt that valuable. Its a peice of crap.
I use Yahoo Movies and Yahoo IM (occassionally) and my anonymous email addy is a Yahoo address.
I use Google for most everything else.
#4 – You are quite right. Social networking is huge… but who is going to succeed at it at any given moment will be a flavor of the week kind of thing. Who knows… OKCupid could erupt this year.
Old media buys into ancient media. Soon Murdock may corner the declining market!
I must also say that MySpace definitely isn’t worth what its being offered for. I’ve seen statistics that say its still the most popular social-networking site, but everyone I know has moved on to Facebook (definitely flavour of the the week).
OKCupid will never go anywhere. that site is just frightening.
I highly doubt this offer is going through. Uncle Rupert’s recent moves have all been about building a financial news network to pair with Fox News, and it seems like this move is about expanding both.
Murdoch got robbed on Myspace in my opnion…yeah myspace is doing great for now but will it really hold up for the longhaul… very doubtful… myspace is too much like a popular clothing line,, everyone is doing it because it is the in thing right.. there are no real benefits from being a myspace member…..if yahoo would change their system up just a little and be a little more aggressive on marketing,then they could be the old powerhouse they once was… and plus it would take 12 billon to et that 25% murdoch wants in yahoo… i think he should sell myspace to young and upcoming company with new ideas and let it strive and cut his losses and quit trying to ripp someone else off just because he got taken…