Yahoo Seeking Partnership With News Corp. 91
rattlesoft tips us to a Washington Post report that Yahoo is now seeking a partnership with News Corp. A related Reuters article notes that analysts are skeptical of such a deal. From the Post:
"Yahoo is talking with a number of potential partners, possibly as a way to either stave off future Microsoft offers or in an effort to drive up the software giant's offer. The talks between News Corp. and Yahoo ... may signal a resumption of discussions that took place last summer between the two media giants that quieted during the fall. Such a combination would make News Corp. the largest single shareholder in a Yahoo/Fox Interactive unit. That would marry the world's most popular social-networking site, MySpace, with Yahoo's 4 billion page views per month to make a formidable opponent for Google."
Re:Yahoo in decline, MySpace in decline... (Score:5, Informative)
But what if you put it THIS way ... (Score:5, Informative)
"The founder of social networking giant MySpace has claimed that the sale of the business to Rupert Murdoch's News Corporation last year for $580 million was a scandal and has demanded an investigation into his allegations that it was sold too cheaply.
Greenspan alleges that the management of the company and chief executive Richard Rosenblatt in particular of hiding vital financial information about MySpace parent Intermix Media's performance in order to convince the shareholders that $580 million was a fair price for the business.
'News Corp.'s valuation has increased by $12 billion since the transaction occurred just one year ago, and there are several independent analysts today that agree that Myspace is worth tens of billions of dollars," Greenspan said. "It is time everyone knew the truth about the 'hijacking' of Myspace and the individuals responsible for this eye popping theft.'
Greenspan said that he found internal company reports which said that MySpace revenue grew at a rate of 1,289% a year between 2003 and 2005. The growth of the whole of the company, which included other units, was 52%, which is the figure which most shareholders were given, says Greenspan.
Greenspan made $47 million from the sale of the company, which he left in 2003 amid an informal SEC inquiry and restatements of accounts, according to Reuters."
http://www.out-law.com/page-7372
Comment removed (Score:3, Informative)