No space @ MySpace

The fate of Rupert Murdoch’s distressed, (un)social network MySpace should be known within a fortnight according to global executives.

The Australian office of MySpace has been wound down, with the bulk of staff shed late last year. News Digital Media is mooted to be in discussions to take on the online ad sales role for the website. Current head of international at NDM, Rebekah Horne, has told media that an announcement regarding the future operations of MySpace would be made within weeks.

Horne herself is exiting, in part of the ongoing depletion of MySpace resources. Next month she will join DMG Radio as its chief digital officer, reunited with Lachlan Murdoch who is a 50% shareholder in the radio broadcaster.

Horne returned to Australia earlier this year after holding a global role in London for nearly three years.

News Corp’s head of digital media Jonathan Miller told press in the US last week that the company was “two weeks” away from knowing the outcome of a prolonged attempt at divesting the asset.

News Corp hired investment bank Allen & Co. to evaluate offers for MySpace, with a goal of concluding a deal before the fiscal year ends in June. The News Corp. business group that includes MySpace had an operating loss of US$165 million in the March quarter, compared with a $150 million loss a year earlier. ®