News Corp. is in preliminary talks to give control of Myspace to Vevo.com, the site partly owned by top record companies, including Universal Music and Sony Music, according to a Bloomberg report. News Corp. has been looking to unload the social media site, which continues to lose ground, despite the recent redesign and ramped up entertainment content. A year ago, Owen Van Natta stepped down as MySpace’s CEO, replaced by Mike Jones and Jason Hirschhorn.
REPORT: News Corp. In Talks To Hand Over Control Of MySpace To Vevo
By THE DEADLINE TEAM | Monday March 28, 2011 @ 10:22pm PDTTags: MySpace, Vevo.com
This article was printed from http://www.deadline.com/2011/03/report-news-corp-in-talks-to-hand-over-control-of-myspace-to-vevo/
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This is a reasonable exit for MySpace. It still does good business as a homepage for bands, so might as well give the record companies a crack at running it.
Is this the same Vevo that forces Youtube to put 30 second ads on 45 second videos?? If so, I’m calling time of death on Myspace.
Yeah they really need to figure out a way to generate revenue other than the TV model of 30 second spots for short internet clips.
Every time I click on a Vevo video, and I see that orange bar over the timeline (telling me I’m going to be sitting there for 30 seconds with the speakers muted while an ad runs), I contemplate my life and why I need the internet in it.
In other news, Friendster was just sold off to Winn Dixie for a whopping $1.1 dollar. Analysts say this was $.50 above the expected selling price.
Correction: Owen Van Natta stepped down over 1-year ago and not last month AND Hirschhorn left the company in June 2010.
In the three hours since this story has been posted, Facebook has raked in another $1 million, oops, typo, make that $1 billion.
What is myspace by the way? Is that something our grandparents used “back in their day?”
Yes, Hank.. Thats the Vevo; imagine the video-ad/content ratio that this could afford MySpace, just what they need to regain footing…
Is it bad if I enjoy seeing Murdoch lose money?