Vevo to Take MySpace Off News Corp's Hands?

Music website Vevo.com could get control

By Evann Gastaldo

Posted Mar 29, 2011 12:16 PM CDT

Copied

News Corp in Talks to Hand Off MySpace to Vevo.com — News Corp. Chairman Rupert Murdoch, who owns the social networking Web site MySpace, speaks at the company's Global Energy Initiative in this May 9, 2007, file photo. (AP Photo/Mark Lennihan, file)

Struggling MySpace could soon be handed over to music website Vevo.com, Bloomberg reports. News Corp. is in talks to give control of MySpace to Vevo in exchange for a stake in a new venture, sources say. However, the talks are preliminary and several other parties are also looking at MySpace. Vevo, the No. 5 Web video destination in the US, is partially owned by the world's major record labels.

Vevo features ad-supported music videos, so it could make use of MySpace's music assets; the social networking site decided in 2009 to focus more on music and entertainment.

Read These Next

She was married at 12. At 25, she faces execution.
Now it's Democrats' turn to complain about a 60 Minutes edit.
Trump says Seth Meyers' mockery is 'probably illegal.'
These 6 food items are a no-go after their expiration dates.

Report an error