MySpace, the long-suffering website that the News Corp. bought six years ago for $580 million, was sold Wednesday to the advertising network Specific Media for roughly $35 million.
The company hasn’t selected from among several buyers yet, according to a person, who was not authorized to comment publicly and spoke on condition of anonymity. At least three bidders are still in the running — Specific Media, Golden Gate Capital and Austin Ventures. News Corp. is likely to lay off more than half of the MySpace staff to get the deal done.
LOS ANGELES (AP) — Struggling entertainment site MySpace said Tuesday that it is cutting nearly half of its staff worldwide, or about 500 people, after an extensive revamp in October […]
