Mike Jones: What was That You Were Saying About Myspace?

One thing I leaned from my radio days in the 90’s is when corporate suits sit you down in a group and tell you that your jobs are safe is the day when you need to start shopping tapes and resumes…

We’ve been covering the debacle that is now Myspace since the third quarter conference call when News Corp’s Chase Carey said that he was watching Myspace’s numbers. Then around the time of LeWeb Mike Jones said that Myspace wasn’t for sale and that everything was “Fine” fast forward to this week and Newscorp has now laid off 500 myspacers and is mulling a spin-off, buy out or merger.

Rosabel Tao, a spokesperson for Myspace has said “News Corp. is assessing a number of possibilities including a sale, a merger and a spinout…The process has just started.”

Myspace went through a site redesign in October aimed at attracting younger users with more hip music and celebrity content. Jones revealed that 3.3 million profiles have been created since the redesign and that mobile use rose 4%. That’s nothing compared to the growth Facebook has seen during the same period.

News Corp has put together a team under Jack Kennedy to determine the best route to get the Myspace bleeding off their balance sheet.

Source: Bloomberg

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