News Corp. ready to unload MySpace

From CNET News.com: News Corp. is weighing the sale of MySpace as one of a few remaining options to deal with the once popular but now languishing social network.

News Corp. CEO Chase Carey said yesterday in an earnings conference call that the time is right to consider either restructuring its relationship with MySpace or just selling it outright.

"We recognize that the plan to allow MySpace to reach its full potential may be best developed under a new ownership structure and we're evaluating those strategic alternatives," Carey said, according to the AFP news service.

Although Carey clarified that options could include a sale, a new investor, or even sticking with MySpace but only through some type of restructuring, he did acknowledge that News Corp. has already heard from potential buyers.

"The interest to date has ranged from 'A' to 'Z,' from industry players, financial players to foreign to domestic and that's without really being out there," he said, according to AFP. "It's sort of incoming, we're not soliciting anything at this point."

The latest rumblings about a sale or other alternative follow word last month from a MySpace representative that News Corp. was looking into possibilities, such as a sale or spinoff.

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