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Showing posts with label Myspace Vevo. Show all posts
Showing posts with label Myspace Vevo. Show all posts

March 29, 2011

Myspace Sell off To to Vevo , Fuels Brands To exit

Following ComScore’s dismal reports on Myspace losing 10 million users over a month, it is now being reported that advertisers are reluctant to use MySpace just as News Corp holds talks with Vevo over the possibility of disposing of the site.

After kicking off a strategic review looking to sell or spin off the declining social networking website last month, News Corp initially approached Vevo about acquiring Myspace, according to US media reports. Reuters  also reports that the deal being discussed would see Vevo taking over Myspace, with News Corp taking a stake in a new venture. But at the same time, it reports sources saying the deal’s chances of going through are “very slim”.

Traffic to Myspace last month plunged 44% from a year earlier to 37.7 million unique U.S. visitors, its lowest monthly total since February 2006, according to comScore Inc.

And no wonder – along with the falling traffic numbers, today the Wall Street Journal (also owned by News Corp) is reporting that advertisers are abandoning the site, particularly the long term deals that tend to be the most profitable for media owners.