Vevo to Take MySpace Off News Corp's Hands?
Music website could get control
By Evann Gastaldo, Newser Staff
Posted Mar 29, 2011 12:16 PM CDT
News Corp. Chairman Rupert Murdoch, who owns the social networking Web site MySpace, speaks at the company's Global Energy Initiative in this May 9, 2007, file photo.   (AP Photo/Mark Lennihan, file)

(Newser) Struggling MySpace could soon be handed over to music website, Bloomberg reports. News Corp. is in talks to give control of MySpace to Vevo in exchange for a stake in a new venture, sources say. However, the talks are preliminary and several other parties are also looking at MySpace. Vevo, the No. 5 Web video destination in the US, is partially owned by the world's major record labels.

Vevo features ad-supported music videos, so it could make use of MySpace's music assets; the social networking site decided in 2009 to focus more on music and entertainment.

View 1 more image
More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
News Corp in Talks to Hand Off MySpace to is...
Show results without voting
You Might Like
Showing 3 of 4 comments
Mar 29, 2011 5:28 PM CDT
MySpace is the ghetto of the internet. Let it fade away quietly.
Mar 29, 2011 1:12 PM CDT
Where's the "This is the Most Important Thing in My Life" voting option?
Mar 29, 2011 12:47 PM CDT
Myspace wasn't half bad until they changed it. Then changed it again. Then it went unrecognizable and impossible to navigate and was suddenly just...all music and teens.