MySpace sale reports are "fabrications"

News Corp digital chief Jonathan Miller said yesterday his company is not in talks to sell its once popular social networking site MySpace and described reports of any discussions as "fabrications."

"We are definitely not in any ongoing talks for a sale of MySpace," he said on the sidelines of the Allen & Co organized media conference.



Miller said News Corp is planning another reinvention of the beleaguered site with a relaunch expected later this year. A year ago News Corp executives talked about relaunching the site as an entertainment focused site.



Although MySpace has focused more on entertainment such as music, it has steadily seen its visitor numbers drop.



It has also lost several top executives including co-president Jason Hirschhorn last month. Hirschhorn, with fellow co-president Mike Jones, replaced former CEO Owen Van Natta just four months earlier.



News Corp Chief Executive Rupert Murdoch famously beat rival media companies in a race to buy MySpace in 2005 for $580 million (£382 million).



At the time of the deal MySpace was one of the fastest growing Web properties adding millions of users within a few months. But in the last two years it has lost momentum to fast-growing rivals like Facebook and Twitter and has become something of an albatross around Murdoch's neck.



Murdoch has repeatedly denied any plans to sell MySpace.



One factor that could decide whether a sale materializes will be whether MySpace can attract another lucrative potential search advertising deal similar to the three-year $900 million (£593 million) deal it struck with Google in 2006.



That deal expires in August according to reports and new talks are reported to have started, according to the Wall Street Journal, which is also owned by News Corp.



But it is not expected that MySpace will come close to the Google deal that was struck at the top of the advertising market.

PROMOTED VIDEO
Life and Style
ebookNow available in paperback
Life and Style
ebooksA superb mix of recipes serving up the freshest of local produce in a delicious range of styles
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Gadgets & Tech

    Recruitment Genius: IT Support Engineer

    £17000 - £30000 per annum: Recruitment Genius: A Microsoft Gold partner, our c...

    Ashdown Group: Sales Support - Buckinghamshire - £25,000

    £20000 - £25000 per annum + benefits: Ashdown Group: Internal Sales Executive ...

    Ashdown Group: IT Analyst / Helpdesk - 2 Month Contract - £15ph - High Wycombe

    £15 per hour: Ashdown Group: IT Analyst / Helpdesk - 2 Month Contract - £15ph ...

    Recruitment Genius: Automation Test Analyst

    £35000 - £50000 per annum: Recruitment Genius: This group is the world's secon...

    Day In a Page

    Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

    Homeless Veterans appeal

    In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
    Could cannabis oil reverse the effects of cancer?

    Could cannabis oil reverse effects of cancer?

    As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
    The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

    The Interview movie review

    You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
    Serial mania has propelled podcasts into the cultural mainstream

    How podcasts became mainstream

    People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
    Jesus Christ has become an unlikely pin-up for hipster marketing companies

    Jesus Christ has become an unlikely pin-up

    Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
    Rosetta space mission voted most important scientific breakthrough of 2014

    A memorable year for science – if not for mice

    The most important scientific breakthroughs of 2014
    Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

    Christmas cocktails to make you merry

    Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
    5 best activity trackers

    Fitness technology: 5 best activity trackers

    Up the ante in your regimen and change the habits of a lifetime with this wearable tech
    Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

    Paul Scholes column

    It's a little-known fact, but I have played one of the seven dwarves
    Fifa's travelling circus once again steals limelight from real stars

    Fifa's travelling circus once again steals limelight from real stars

    Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
    Frank Warren column: 2014 – boxing is back and winning new fans

    Frank Warren: Boxing is back and winning new fans

    2014 proves it's now one of sport's biggest hitters again
    Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

    Jeb Bush vs Hillary Clinton

    Karen Tumulty explores the power dynamics of the two first families
    Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

    Stockholm is rivalling Silicon Valley

    The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
    Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

    Crucified Santa: Urban myth refuses to die

    The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
    Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

    The Boy in the Dress: On set with the stars

    Walliams' story about a boy who goes to school in a dress will be shown this Christmas