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    HomeNewsWorldMySpace sale on course for mid 2011

    MySpace sale on course for mid 2011

    News Corp is on course to sell its social networking unit MySpace by mid-2011, business news network CNBC reported on Monday.

    January 04, 2011 / 10:23 IST

    News Corp is on course to sell its social networking unit MySpace by mid-2011, business news network CNBC reported on Monday.


    The company will also lay off more than half of its staff the news network said, citing sources.


    A MySpace spokeswoman declined to comment.


    Reuters reported in November that News Corp was open to a sale of MySpace after its relaunch as an entertainment site. A successful revamp of the site -- still visited by around 60 million people a month -- was seen as possibly paving the way for a sale.


    MySpace, once one of the fastest growing sites on the Web, has fallen behind its much larger rival Facebook which is visited by about 150 million people monthly.

    first published: Jan 4, 2011 08:15 am

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