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News Corp. Close to the sale of a piece of MySpace Bobby Kotick CEO of Activision Blizzard

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News Corp. paid $ 580 million for MySpace in 2005 in a case that has been hailed by many as a bold and potentially lucrative industry in the burgeoning social media. But faced with competition from Facebook and Twitter withering, told Reuters News Corp would be lucky to find a deal that values ​​MySpace for 100 million.Investment Kotick is a personal decision, not affiliated with Activision Blizzard, according to Reuters.

The media conglomerate paid $ 580 million six years ago, MySpace, but insiders say the company is worth about 100 million social networks today.

Bobby Kotick, CEO of Activision Blizzard’s games, is part of a group of investors that is closed on an agreement to acquire News Corp.

for a controlling interest in MySpace.

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