The knackered social platform MySpace is up for sale – and owner News Corp has somehow managed to round up six potential bidders.
Rupert Murdoch’s company paid $580 million for MySpace in 2005, when it was at the peak of its popularity. Afterwards, however the site has developed into a bit of a dud.
Six parties are now thought to be looking at a bid, according to the Wall Street Journal, but they are unlikely to pay anything close to what Murdoch originally coughed up.
The possible bidders include private equity groups Thomas H Lee Partners, Redscout Ventures and Bebo-owner Criterion Capital Partners, plus Veevo, a Chinese technology group.
Good luck to them – they are going to need it.