News Corporation is struggling to find interested buyers for MySpace, with the list of potential bidders down to two, the Australian Financial Review has reported. The media giant was said to have only received a handful of offers for the social networking site, with none at the $US100 million ($A94 million) asking price, the report said.
News Corp was said to be talking to as many as 20 parties in April, the list has now dwindled down to Criterion Capital Partners, along with two private equity firms, and a consortium led by MySpace chief executive Michael Jones, the AFR said.
In a separate report on Bloomberg, News Corp's head of digital media, Jonathan Miller, said the media company would make a final decision on the sale in the next two weeks. “In two weeks, we’ll know something,” Mr Miller told Bloomberg. The report said News Corp was trying to find a way to regain the website's loss of market share to Facebook Inc. News Corp acquired MySpace in 2005 for $US580 million. The social networking site was operating at a $US165 million in the third quarter of fiscal 2011.