AfterDawn: News

News Corp. in talks to sell MySpace to Zynga, Zynga laughs at asking price

According to multiple sources, Zynga has had introductory talks with News Corp. about purchasing the dying social network MySpace.

News Corp. is asking for over $100 million in Zynga stock, a number far too steep for the social gaming company to even consider.



MySpace continues its death spiral, with traffic already at 50 percent lower than it was in 2010, which was 30 percent lower than it was in 2009.

Annual revenues have fallen to $80 million, from over $300 million in 2008. News Corp. purchased the site for $660 million in 2006.

If Zynga walks, MySpace CEO Mike Jones is said to be raising money for a possible bid.

Written by: Andre Yoskowitz @ 4 Mar 2011 14:04

• Previous article

• No Twitter IPO coming this year, says co-founder

• Next article

• Apple to finally remove draconian music download limit?

• 2 comments

• klassic

  I will offer them 10 bucks and a piece of garlic bread that I just made.
  

  I wanna devise a virus and bring dire straights to your environments. Crush your corporations with a mild touch, trash the whole computer systems and revert you to papyrus - Deltron 3030

  4.3.2011 16:55 #1

• Hopium

  how about you just split the garlic bread with me, and save yourself the headache.

  5.3.2011 12:53 #2