Looks like News Corp will be putting MySpace on the auction block again, seeking suitors willing to shell out the big bucks.
“News Corp is expected to receive bids for Myspace by the end of this week, according to a person familiar with the matter. Around five or more bids to buy all or part of the one-time social networking pioneer are expected, valuing the Los Angeles-based company at more than $100 million, according to this person.” [Reuters]
Of course the price tag sounds preposterous for the online revolution’s former leading site turned graveyard. High until considering Rupert Murdoch and co. purchased MySpace for $580 million in 2005.
And you thought the value of your home took a hit in recent years.