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News Corp Plans MySpace Sale

News Corporation is seeking to sell social network, MySpace.

News Corporation is seeking to sell social network, MySpace, Bloomberg reports. Boston-based social network for mobile devices, MocoSpace, is one of the bidders for MySpace, which was sold to News Corp in 2005 for $580 million.

The deal is expected to be in the range of $50-200 million. News Corp has appointed Allen & Company to consider a buyout option for MySpace and has got bids from about 50 companies, adds Reuters.

Click here for the story from Bloomberg.

Click here for the additional coverage from Reuters.

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