Tuesday, June 28, 2011

Reports: MySpace To Go For $20-30M

Multiple reports today say that once lofty social networking site MySpace is now being set to be sold by News Corp. for as little as $20M to $30M. Irvine-based Internet advertising network Specific Media and Golden Gate Capital are among the rumored bidders for MySpace. MySpace is reportedly planning big employee cuts at the company today.

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