MySpace to be sold for just pound 18 million?

MySpace looks set to be sold this week, with the social networking site to be bought for a fraction of the $580 million News Corp paid for it back in 2005.
News Corp had been hoping to get around $100 million for the site, but All Things Digital is reporting that this is way off the number that is likely to be agreed, which will be between $20 to $30 million (£12 to £18 million).
There are two companies vying for MySpace. Specific Media and Golden Gate Capital – the former being an advertising network and the latter a private equity firm.
Deal soon
News Corp is hoping that the sale will be completed by Thursday and it is thought that MySpace Music will be what the eventual buyers will focus ... »read more

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