MySpace, for some reason, has become the place no one wants to admit going to and now we can kinda see why. The company that owns MySpace, News Corp., will be selling Myspace for $30 million or LESS when he paid nearly $600 million dollars for it six years ago.
This is really looking bad for Myspace. To be sold at $600 million six years ago to only being put on the market for $20-$30 million? Damn.
As part of the deal, there are rumors that there will be a significant cut in staff and costs.
While there were some rumors last week that News Corp. would close Myspace down, the sale to a small player and the layoffs are the likely outcome.
Will you be checking your MySpace account anytme soon?
via Bossip
Photo: Google Images
