News Corporation are looking into either selling social network MySpace or entering into a partnership in a bid to make the flailing site profitable, according to News Corp Chief Operating Officer Chase Carey.
Seeing its user numbers fall dramatically following the rise of Facebook, MySpace has undergone extensive rebranding to become just as much an entertainment hub as a communications platform. The site recently also added Facebook integration in an attempt to lure users back into the MySpace fold.
“We have really overhauled the product and made it a very different experience and I think they did a very good job,” Carey said of the recent changes.
However MySpace is still trailing in terms of site visits. Roughly 60 million people visited MySpace this October according to the latest figures from comScore, compared to around 150 million people visiting Facebook every month. Turning a profit is now of the utmost importance, and potentially by any means.
“We need to deal with this with urgency,” said Carey.
“There are opportunities here to do 20 things (with MySpace) but that doesn’t mean you’re going to do any of the 20,” he added. “If there’s something there that makes sense you ought to think about it.”
News Corp are rumoured to be entering talks with Yahoo and AOL to see what possible partnership can be reached.