.
News Corporation (ASX:NWS) has reportedly sold its struggling social network site MySpace for $US545 million less than the amount it paid for it in 2008.
The media company paid $US580 million for MySpace and its publications are today reporting that it has sold MySpace for $US35 million to online advertising firm Specific Media.
The final figure is significantly less that the $US100 million News Corp was believed to be targeting.
News Corp will reportedly retain less than a 5 per cent stake in MySpace when the sale is finalised later today.
News Corp’s publications say news of the sale was confirmed by a person familiar with the matter who was not authorised to speak publicly but spoke on condition of anonymity.
News Corp booked a net profit of just under $1.5 billion in the first half of its 2011 financial year.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$50.34 |
Change
-0.570(1.12%) |
Mkt cap ! $1.840B | |||
| Open | High | Low | Value | Volume |
| $50.91 | $51.17 | $50.17 | $26.49M | 524.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 126 | $50.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $50.54 | 126 | 2 |
View Market Depth
| Last trade - 16.10pm 12/08/2025 (20 minute delay) ? |
| NWS (ASX) Chart |