MySpace likely will be sold

After five years spent USD580 million to buy MySpace, a News Corporation executives have acknowledged that the company is open to selling the social networking site.
According to a report, sale or partnership through the options offered are being considered for the future of MySpace. So that was reported by Reuters on Tuesday (11/30/2010.
News Corporation Chief Operating Officer Chase Carey refused to indicate how long the organization would consider the next step, but he showed happy with the new direction of MySpace.
In October, the popular social networking site launched a redesign. Carey believes is a space where people can express themselves, allowing users to customize the logo and make it his own just like they do on Myspace.
Less than a month later, MySpace announced a partnership with Facebook, allowing users to register and log in to their site.
It was previously also, many observers are predicting the demise of a site that once dominated the social networking market tersebut.Carey MySpace also said he expects to be profitable someday.
''We think this could be a very interesting business. Having some real assets,''he said at the Reuters Global Media Summit last week.