MySpace sacks more
More bad news for Murdoch's web grab
The social network everyone used before they found Facebook is expected to sack another 150 staff tomorrow.
MySpace still employs 400 people in southern California, but it seems the rumours of slashing jobs has restarted rumours of an imminent buyout for the struggling site.
The Post reckons another 150 people will be put on notice. This group will keep working, and getting paid, but will be told to start looking for new jobs.
The rumours, along with imminent financial results, are fuelling talk that a takeover is waiting to be signed.
The most likely buyer, says AllThingsDigital, is a group of private equity investors including Activision chief executive Bobby Kotick - who would be betting his personal account, not company money, on the deal.
MySpace sacked 500 people in January - around half its headcount at that time.
Murdoch paid $580m for MySpace back in 2005. ®
> Murdoch paid $580m for MySpace back in 2005.
Never understood it
Every MySpace page I ever visited looked like the drug-fuelled nightmares of eboy, and made me want to scrub my eyeballs with wire wool. I never understood why people *used* it, much less why anyone would want to buy it. An abomination that should not be mourned.
Having said how awful MySpace is currently, a good argument could be made for using it as a baseline to create a genuine rival to Facebook.
FaceBook obviously has issues and if MySpace converted itself into something with respect for the issues which Facebook fails on, then it could have a market space for itself.