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Posts Tagged ‘MySpace’

Monica Herrera Leaves Rolling Stone for Myspace

Monica Herrera is leaving Rolling Stone to serve as managing editor of Myspace’s relaunch. Herrera has been with the magazine since 2011, serving as a senior editor.

Prior to her time at Rolling Stone, Herrera served as online news editor for Billboard, from 2009 to 2011.

Herrera’s last day at Rolling Stone is tomorrow.

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Rupert Murdoch Gets Brutally Honest About Myspace

Yeah, that pretty much sums it up.

Myspace Sold for $35 Million

All Things D is reporting that News Corp.’s Myspace days have finally come to a close. The site has been sold to Specific Media, an advertising network, for $35 million (so we were close). Mike Jones, Myspace’s outgoing CEO, made sure to mention those lay offs in an announcement about the sale:

In conjunction with the deal, we are conducting a series of restructuring initiatives, including a significant reduction in our workforce. I will assist Specific with the transition over the next two months before departing my role as Myspace CEO.

Who knows what will happen to Myspace now, but one thing is for certain, we will always remember the porn spam and the inane bulletins that the site brought into our lives each day. For that we will always be grateful.

News Corp. Might Only Get $30 Million in Myspace Sale

We haven’t heard any updates on the rumors of massive firings at Myspace yet today, but there’s more news on the possible sale of the site: According to The Los Angelese Times, Myspace will be sold for between $20 and $30 million.

That’s a very, very small return on the investment. Back in 2005, News Corp. paid $580 million for the site, and apparently was hoping to get an offer of at least $100 million. That hasn’t happened. The leading candidates to purchase Myspace are only offering a fraction of that.

We’re betting that the holiday weekend for execs at News Corp. and Myspace can’t come soon enough.

Myspace to Let Go of About 150 Employees Wednesday

Techcrunch is reporting that Myspace is going to lay off about 150 employees tomorrow; almost 40 percent of its workforce. And that’s not all. An additional 150 staffers will be placed in transitional status, where they’ll still be able to work for a few weeks with pay before eventually getting fired as well.

That same day, according to Techcrunch’s inside sources, the company is going to sign a deal to sell the website. As we reported earlier this month, the leading candidates to acquire Myspace appear to be an investor group lead by an executive from Activision, the video game company.

With the site up for sale, we’ve been waiting for the ax to start dropping. Sadly, it sounds like it’s going to drop about 300 times.

Myspace Eyed by Investor Group

News Corporation has been trying to get rid of the money pit that is Myspace for months now. As time ticks down on its fiscal year (it ends June 30th), a group of investors has apparently emerged as the frontrunner to acquire the site. The Wall Street Journal reports that the group, which might include an executive from Activision, features three other parties:

Some other suitors who have remained interested in recent weeks include private-equity firm Criterion Capital Partners LLC and social networks Tagged Inc. and myYearbook, according to other people familiar with the matter.

Greg Tseng, CEO of Tagged, seems genuinely interested in taking over the site. Tseng issued a statement explaining he ”would be excited to take MySpace back to its original roots as a place to meet people.”

We’re not sure, but we think there’s another online “place to meet people” that might offer some real competition to Myspace. We have staffers looking into it, and we’ll update you when we know for sure.

News Corp. to Determine Fate of Myspace in Two Weeks

Jonathan Miller, head of News Corp.’s Digital Media Group, said that the fate of Myspace will be known very soon. He told Bloomberg, “In two weeks we’ll know something.” That “something” probably isn’t going to anything positive, as the site has been hemorrhaging money for quite some time now.

Yes, those are some pretty dark clouds looming around your Myspace profile. Your page might have a fantastic picture of Vin Diesel in the background, and we bet it automatically plays a great selection of Enrique Iglesias songs, but sadly, its time is probably coming to an end.

Vevo Denies Myspace Deal

Poor Myspace. First everyone abonded it for the cool, new guy on the block Facebook. Then it started losing money by the handful. Now, as News Corp. practically begs someone to take it, the one company that seemed to match up with Myspace perfectly – Vevo.com – has publicly denied any interest in the website.

PaidContent has an interview with Vevo’s CEO Rio Caraeff, and one of the first things he mentions is the Myspace rumors:

I’ve seen that reported. Our strategy is to focus on growing organically, building a global brand. We’re not in conversations to make that [MySpace deal] happen – it’s not something that there’s any substance to.

Keep your head up Myspace. Someone will love you again, we’re sure of it.

Myspace Sued for Giving Away Member Data Without Consent

Bloomberg reports that News Corp.’s Myspace was accused in a lawsuit of giving data to aggregators that associates members’ names with their Internet browsing history, without member’s consent.

“Myspace knowingly serves as and profits handsomely from being a conduit through which details of the most intimate aspects of its members’ lives…are transmitted to data aggregators,” wrote the complaint, filed today in federal court in Brooklyn.

Hmm. We’re not so sure about the “profits handsomely” part. The complaint may be the only document we’ve seen accusing the failing company of doing well at anything.

News Corp. is in talks to hand over control of Myspace to Vevo.com, and it remains to be seen if this lawsuit will affect the transfer. Myspace, we think it’s fair to say, has been having a really, really bad run of things lately.

Serious Talks for Myspace to Begin Wednesday

All the companies who simply can’t wait to lose money by dealing with News Corp.’s Myspace are expected to begin serious talks on Wednesday.

All Things Digital is reporting that there are about 12 such companies, but none appear to have the lead, and no deal is expected any time soon:

Despite a variety of reports of various interested buyers, no deal for the Beverly Hills, Calif.-based Myspace is imminent with any one of them. Instead, most expect some kind of outcome within two weeks at the earliest.

We thought a Vevo-Myspace deal would be perfect, but apparently even Vevo is getting cold feet.

We’ve reached out to the 17 people who still use Myspace for comment, we’ll let you know when we hear back.

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