MySpace on the block as News Corporation weighs up sale or partnership

Poor old MySpace, it’s like a patient in the terminal illness ward that has defied the best efforts of even the most expensive medics.

Now News Corporation COO Carey Chase, who seems to be discussing News issues quite freely these days, has admitted that News would consider a sale or a partnership with the likes of AOL or Yahoo. Speaking yesterday he said there were “about 20 things” they could do with it, with just shows what a problem it is.

MySpace, then arguably the world’s leading social network site, was bought by News for $580m in 2005. Since then, despite large injections of money and cross promotion (and ever-changing management) it has resolutely failed to produce any kind of coherent response to the seemingly irresistible rise of Facebook.

Any face-saving MySpace deal would be welcomed by News boss Rupert Murdoch. He has probably come to accept that such a product just doesn’t fit into a conventional media conglomerate.

If the talkative (and extravagantly moutachio’d) former DirecTV executive Mr Chase can pull off such a deal he may even rise further in the company. Although there’s a certain James Murdoch in his way.

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About Stephen Foster

Stephen is a former editor of Marketing Week and London Evening Standard advertising columnist. He wrote City Republic for Brand Republic and is a partner in communications consultancy The Editorial Partnership.