News Corp. Looks Online, Could Offload MySpace

As Rupert Murdoch patiently awaits Dow Jones' decision about News Corp.'s takeover offer, analysts -- expecting that deal to happen -- estimate that the media giant would allocate the expected $5 billion to further Internet acquisitions. "Rupert has a shopping list. Dow Jones is at the top of it, but it's not the end of the list," a source told the Financial Times. Near the top of that list, perhaps, is a deal that would involve the sale or a possible merger of its massive social network MySpace. At an estimated value of $10 billion, some feel News Corp. has gotten all the mileage it can out of MySpace, which skeptics say is fading in light of the resurgence of rival Facebook. News Corp. bought MySpace for $580 million in 2005. Despite MySpace's huge usage numbers, it was never able to make the most of its non-search inventory. Which is precisely why some believe the exchange of MySpace for 25% to 30% of Yahoo would benefit both parties. More ...