News Corp., which paid $580 million for MySpace in 2005, may end up selling the social network for $50 million to $200 million, said the chief executive officer of a potential acquirer.
MocoSpace, a Boston-based social network for mobile devices, contacted News Corp. after the New York-based company said Feb. 2 that it is considering strategic options for MySpace, said Justin Siegel, CEO of MocoSpace. News Corp. has agreed to talks about a possible sale, he said.
Chase Carey, News Corp.’s chief operating officer, told investors two days ago the company is considering “new owners” for Beverly Hills, California-based MySpace, which News Corp. bought in 2005. Many potential buyers have inquired about MySpace, Carey said at the time, without naming any.
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