Thursday, November 16, 2006

Rupert: MySpace Worth $6 Billion

In an investors meeting in Australia yesterday, Rupert Murdoch said that MySpace could now be sold for $6 billion — about a 10x return on the original $580 million that News Corp. paid for it.
In other news, one of the many MySpace alternatives, Facebook, is rumored to be in talks with IAC — or at least Zuckerberg (Facebook founder) and Jason Rapp (IAC SVP of M&A) were seen mingling together at the Foursquare conference in NY. Facebook has been in acquisition talks with Yahoo in the past, but either the price was too much or acquisition activity halted due to poor stock performance.

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