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Digital
News Corp talks to VEVO about MySpace deal
By CMU Editorial | Published on Tuesday 29 March 2011
According to reports, News Corp has floated an idea past Universal and Sony Music owned music video service VEVO that it might like to take ownership of flagging social networking service MySpace in return for the Rupert Murdoch controlled media empire getting a stake in the VEVO company. Presumably VEVO could get some use out of MySpace’s vast database of users, even if most of its other assets are pretty useless.
It’s thought News Corp’s bankers Allen & Co originally proposed VEVO buys MySpace, but when that idea was rebuked the partnership proposition was put forward. It would be an interesting deal, though Reuters does cite sources who say that while talks have been ongoing since last month the chances of this proposal coming to fruition are low.