News Corp. Holds Early Talks with Vevo About Myspace

March 30, 2011 at 12:00 am PT

News Corp. has reached out to online music video network Vevo about a possible deal with Myspace, but conversations remain preliminary and the pairing is one of several options under consideration, according to a person familiar with the matter.

An industry executive cautioned that a Myspace-Vevo deal would be hampered by their complex ownership structures, which involve multiple parties. Vevo is jointly owned by Sony Music Entertainment, Universal Music Group and Abu Dhabi Media Co. Myspace operates Myspace Music, a joint venture with some record labels that are also part-owners of Vevo.

A spokeswoman for Vevo declined to comment.

News Corp. has courted several suitors in attempts to offload the social media and entertainment site, according to people familiar with the matter.

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Tagged with: Abu Dhabi Media Co., digital, Emily Steel, entertainment, frontpage, Internet, Myspace, News Corp., social networking, software, Sony Music, The Wall Street Journal, Universal Music Group, Vevo

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