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Edition: U.S. Article Comments (0) Video Email Print Reprints Read WikiLeaks plans to release a U.S. bank's documents 29 Nov 2010 WikiLeaks plans to release a U.S. bank's documents 29 Nov 2010 Proof of extra dimensions possible next year: CERN 15 Nov 2010 Factbox: Ties binding China and North Korea 12:22am EST Saudi king urged U.S. to attack Iran: WikiLeaks | 29 Nov 2010 Discussed 64 South Korea names security adviser as defense minister 59 Saudi king urged U.S. to attack Iran: WikiLeaks 58 U.S., South Korea begin joint military exercises Watched Bejeweled bra exposed in NY Thu, Oct 21 2010 Row over vote orgasm video Fri, Nov 19 2010 World reacts to WikiLeaks release Mon, Nov 29 2010 Analyst Research Report Title Price ValuEngine Detailed Valuation Report for AOL Provider: ValuEngine, Inc. $25.0 Buy Entertainment & Media Industry Market Research and Competitive Analysis 2010 Provider: Plunkett Research, Ltd. $299.0 Buy Entertainment & Media Industry Trends, Statistics & Analysis 2010 (Summary) Provider: Plunkett Research, Ltd. $149.0 Buy AOL (AOL=US) - REPORT FOR ACTIVE TRADERS Provider: Pechala's Reports $25.0 Buy E-Commerce & Internet Industry Trends, Statistics & Analysis 2010 (Summary) Provider: Plunkett Research, Ltd. $149.0 Buy NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. News Corp weighs MySpace options Tweet This Share on LinkedIn Share on Facebook By Yinka Adegoke and Jennifer Saba NEW YORK (Reuters) - News Corp is open to a sale of beleaguered MySpace after a relaunch of the social network as an entertainment site, Chief Operating Officer Chase Carey told Reuters. A successful revamp of... Related News News Corp weighs MySpace options Mon, Nov 29 2010 UPDATE 1-Reuters Summit-Microsoft eyes leap back into TV-sources Mon, Nov 29 2010 Key quotes from the Reuters Global Media Summit Mon, Nov 29 2010 Video, newspapers aim to avoid music fate Fri, Nov 26 2010 Cable operators call for reform of TV industry Tue, Nov 16 2010 Analysis & Opinion GlobalMedia-3D? After some thought, News Corp COO likes its future Startup banks on TV show tweets Related Topics Technology » Media » Stocks Related Video New Ways to Deliver Content Mon, Nov 29 2010 Chase Carey, President, Chief Operating Officer and Deputy Chairman of News Corporation, speaks during the Reuters 2010 Global Media Summit in New York November 29, 2010. Credit: Reuters/Shannon Stapleton By Yinka Adegoke and Jennifer Saba NEW YORK | Mon Nov 29, 2010 8:47pm EST NEW YORK (Reuters) - News Corp is open to a sale of beleaguered MySpace after a relaunch of the social network as an entertainment site, Chief Operating Officer Chase Carey told Reuters. A successful revamp of MySpace -- still visited by around 60 million people in October, according to comScore -- could possibly pave the way for a sale. A sale or partnership are two of a number of options the company would consider for the once valuable social network site, which has suffered in the face of competition from new hot sites like Facebook, which is visited by about 151 million people monthly, and Twitter. "There are opportunities here to do 20 things (with MySpace) but that doesn't mean you're going to do any of the 20. If there's something there that makes sense you ought to think about it," said Carey. MySpace has been the subject of recent speculation that News Corp is seeking to sell the site or partner with other digital media companies such as Yahoo and AOL Inc. Carey said that a potential merger "would have been largely a pretty tough sale process" before the revamp. "I think those options would have been pretty limited and I think probably would have undervalued it against what we think it can be," Carey said on Monday during Reuters Global Media Summit. But he refused to specify how long News Corp was willing to give MySpace to regain some of its former luster after previously stating he expects MySpace to become profitable within quarters rather than years. "I'm not going to break down (the number of) quarters," he said. "It's not years ... We need to deal with this with urgency." MySpace relaunched earlier this month as a social entertainment site rather than a direct social networking rival to market leader Facebook. It has even announced a new partnership with its one-time rival to allow users to merge their entertainment interests from MySpace on to Facebook. "We have really overhauled the product and made it a very different experience and I think they did a very good job," Carey said. News Corp acquired MySpace in 2005 for $580 million after Mews Corp Chief Executive Rupert Murdoch famously swooped in to beat rivals like Viacom in the bidding. And initially the deal paid for itself after Google Inc inked a three-year $900 million search advertising deal in 2006. But since then, the website became increasingly irrelevant as a social network for many users as they migrated to Facebook. There have also been several management team overhauls in the last couple of years since the original founding CEO, Chris De Wolfe, stepped down in April 2009. Most analysts on Wall Street do not figure the loss-making MySpace into their key valuation metrics. "It's not been integrated much with anything at News Corp, that's why it's a free asset to divest easily," said Miller Tabak analyst David Joyce. "It's irrelevant as a valuation metric." (Reporting by Yinka Adegoke and Jennifer Saba; Editing by Derek Caney, Phil Berlowitz) Technology Media We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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