rudy_wayne writes "News Corp. is reportedly trying to sell MySpace for $100 million, a fraction of the $580 million it originally paid for the social network in 2005. Parties interested in acquiring MySpace include private equity firm THL Partners, Redscout Ventures and Criterion Capital, owner of social network Bebo (the company AOL bought for $850 million and then sold for $10 million). Chinese Internet holding company Tencent is also reportedly interested, and so is MySpace co-founder Chris De Wolfe. What's not yet clear is what any of these companies plan to do with MySpace if a sale goes through." This follows news of massive layoffs and a rapidly shrinking userbase in recent months.