US reports say News Corp is likely to keep a stake in MySpace as it chooses between the low-ball offers of $20-35 million from funds Specific Media and Golden Gate Capital. News will also pick up the tab for a further staff cull before the sale.

News paid $580 million for MySpace in 2005. A recent investment in Facebook put its value at $70 billion, while Linked-in trades at $8 billion. News Corp recouped its initial investment with a $900 million search advertising deal with Google, but the site has reported heavy losses. The division where it sits reported a $165 million operating loss for last year.

Other posts by :

1. Safran Space links laser direct to satellite
2. SpaceX fearful of AST SpaceMobile’s potential?
3. Equatys wants 2,800 new satellites
4. FCC eyes freeing up Weird Space Stuff spectrum
5. SES happy with releasing 160MHz of spectrum for 5G
6. Inmarsat “likely to win appeal” over Ligado/AST action
7. FCC seeks fair play over foreign satellite access
8. Bank raises RocketLab target price
9. Paramount throws kitchen sink

Categories: Articles, Business, M&A