MySpace layoffs, potential buyers

THIS ’SPACE FOR SALE: MySpace is reportedly considering laying off more employees in conjunction with a deal to sell the site. In January, nearly half of its 1,000-plus employees were let go. Parent company News Corp. has had talks with Chinese Internet company Tencent Holding Ltd., Vevo, MySpace founder Chris DeWolfe, the extremely acquisitive Gores Group (see above item) and Criterion Capital Partners. This despite the fact that MySpace has lost millions and experienced a significant drop in traffic; in February, traffic was down 44% from a year earlier to 37.7 million unique U.S. visitors, its lowest monthly total since February 2006, according to comScore. (4/11a)

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MySpace layoffs, potential buyers

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