Mergers and Acquistions News
Categories: Software
March 29th 2011, 14:55PM
Original social networking site Myspace may soon be sold to video software company Vevo, after talks began with current owner News Corp.
Reuters reported that Music label-owned video site Vevo.com, which provides software for people to upload videos, was in discussion with News Corp, but an insider told the news provider that the likelihood of a deal involving the struggling site was slim.
News Corp first approached Vevo about acquiring Myspace earlier in the year, but the offer was turned down.
The current talks are focusing on the possibility of a joint venture between the two.
Myspace was the premier social networking site for some time, until it was overtaken by its main rival in 2008. The company attempted to remarket it as a social entertainment site, and many bands and musical acts still use it for promotion.
The site now has an estimated 43.2 million users, according to Quancast, compared to more than 500 million for Facebook.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)