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MySpace for sale, News Corp has given up

According to COO Chase Carey, "The new MySpace has been very well received by the market and we have some very encouraging metrics. But the plan to allow MySpace to reach it's full potential may be best achieved under a new owner." That statement pretty much makes it official: the guy with the awesome mustache is looking for someone to buy MySpace.

The news comes as MySpace continues to struggle with the new social networking landscape, where it has been lingering in the ominous shadow of Facebook. Even after MySpace completed a much-needed redesignand then laid off 50% of its staff, parent company News Corp. still isn't satisfied with the financial picture at the site. News Corp. is considering other options as well -- including bringing new investors on board -- but a sale certainly seems like the option they'd be most happy about.

Tags: myspace, news corp, NewsCorp, social networking, SocialNetworking, web

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