News Corp. may be nearing a MySpace deal

06/10/2011 | Wall Street Journal, The

A group of investors, possibly including Activision Blizzard CEO Bobby Kotick, is the most likely candidate to acquire MySpace, sources say. The deal would leave News Corp. with about a 20% stake in the site. Other possible buyers for the site, which lost $165 million last quarter, include social networks myYearbook and Tagged. News Corp. reportedly is eager to cement a deal before the end of the month, when its fiscal year ends.

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