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MySpace worth $12 billion?

Updated 4 years ago
Published Jun 20th, 2007 9:31AM EDT

MySpace’s parent company News Corp and internet giant Yahoo, are rumored to be in talks to execute a sale of the social networking powerhouse. The talks are in their infant stages, and the likelyhood of an eventual deal remains low. The interesting part however, is that Yahoo appears to have put $12 billion worth of stock on the table, equal to 1/4 of their total holdings. Yowza! Remember that less than a year ago Yahoo itself valued rival social networking site Facebook at only $1.5 billion? It looks like the landscape has changed significantly. Whether or not the deal goes through (and more importantly whether or not it would be beneficial for Yahoo in the long run) aside, MySpace’s current value certainly trumps News Corps’s initial buy in of $580 million, now doesn’t it?

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Born with a cell phone in one hand and a tablet in the other, Josh Karp has followed his love of technology through to the present day. As a Special Correspondent at BGR, Josh covers press conferences, trade shows and other events around the world. An expert in all things mobile, Josh has more than eight years of experience covering the wireless industry.