Bids for Myspace Expected This Week
About a half dozen private equity firms and companies are expected to submit bids for News Corp.’s Myspace by the end of this week, according to people familiar with the matter.
The companies considering a deal for the social media and entertainment site include private equity firm Thomas H. Lee Partners, Redscout Ventures and Criterion Capital Partners LLC, owner of social networking site Bebo, according to people familiar with the matter. Some firms are expected to team up on bids, a person familiar with the matter said.
News Corp. also has had talks with a Chinese Internet company about a potential deal, according to a person familiar with the matter. Online music video site Vevo also looked at a potential deal with Myspace, but the company’s interest in the site has waned, according to one person familiar with the matter.
News Corp. also owns The Wall Street Journal and All Things Digital.