Welcome to WebmasterWorld Guest from 54.159.214.250

Forum Moderators: incrediBILL & lawman

Myspace Sale Nears Conclusion

   
5:00 pm on Jun 28, 2011 (gmt 0)

WebmasterWorld Administrator engine is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month Best Post Of The Month



Myspace Sale Nears Conclusion [allthingsd.com]
It was just supposed to be a three-hour tour, um, quick sale process!

But, like a storm-tossed ship looking for any safe harbor, the Myspace sale is still chugging along, with a deal that continues to be tossed around amongst low-paying and new lesser known buyers who are now in the $20 million to $30 million range, said sources close to the situation.

As part of the deal, sources said the News Corp. unit will be making significant cuts in staff and costs — up to 50 percent or more — all contingent on the purchaser. The staff cuts are, obviously, directly related to the transaction and the winning bidder.

2:45 am on Jun 30, 2011 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



Kara has posted again ....


Exclusive: Myspace to Be Sold to Specific Media for $35 Million
June 29, 2011 at 10:51 am PT
Closing another chapter on one of the Internet’s most iconic properties, Myspace has been sold to Specific Media, an advertising network, for $35 million.

[allthingsd.com...]


From Specific Media's site:

[specificmedia.com...]
3:56 am on Jun 30, 2011 (gmt 0)

WebmasterWorld Senior Member 5+ Year Member



And News Corp originally bought it for what, $580 million? Couldn't happen to a more deserving media corporation.
9:05 am on Jun 30, 2011 (gmt 0)

WebmasterWorld Senior Member sgt_kickaxe is a WebmasterWorld Top Contributor of All Time 5+ Year Member



Buy high, sell low, yet somehow turn a profit. It's an artform.

The stock hit a low of $6 in 2009 but is comfortably up in the $17 range today, investors aren't worried about losing the brand.
1:53 pm on Jun 30, 2011 (gmt 0)



Hopefully they do something good with it. Myspace still has a lot of potential.
4:04 pm on Jul 1, 2011 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



As a music seller myself I have to say: bad move to focus on music in the first place. MP3 sales are so low-margin that the marketing world around it can not spin enough cash in general. You have to be VERY creative to make money under the "music" topic online... Thanks, Sean Parker!
6:44 am on Jul 4, 2011 (gmt 0)

10+ Year Member



The musicians I know are all abandoning Myspace for Facebook or other sites due to Myspace being so hard to maintain and nobody using it anymore.

I just shut down my own account the day before this announcement.
 

Featured Threads

My Threads

Hot Threads This Week

Hot Threads This Month