Activision Blizzard CEO May Purchase MySpace
Bobby Kotick may purchase a controlling stake in the fledgling MySpace social network.
Three unnamed sources are claiming that Activision Blizzard CEO Bobby Kotick has joined an investor group and is currently in the final stages of purchasing a controlling stake in News Corp's struggling social network, MySpace. The purchase will be personal according to reports, and will have nothing to do with his games publishing company.
News Corp originally paid $580 million for MySpace back in 2005 when it ruled as king of the social networks. But by April 2008, Facebook had taken the crown and eventually forced MySpace into laying off 30-percent of its workforce by June 2009. The site virtually reboot itself in October 2010 as a social network focused on music, movies and celebrities, but has yet to make any impact on Facebook's growing popularity.
Now News Corp is reportedly looking to sell the network off for around $100 million although sources indicate that News Corp may have to settle for less. On Friday the three insiders told Reuters that Kotick was approached by the unnamed investment group to purchase MySpace in recent weeks, but Kotick has yet to make a full commitment. If he does get involved, his stake is likely to be very small, sources said.
Under the terms of the discussions, News Corp would retain an equity stake, possibly of about 20-percent.
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so low of a price he might actually be able to turn it around.
Oh great this douche. Everytime I see his ugly face it makes me want to vomit
He's why crappy games keep coming out every year. At least myspace already sucks, so he can't ruin it.
I didnt know he collected antiques XD
"Bobby Kotick may purchase a controlling stake in the fledgling MySpace social network."
Its 8 years old now...don't consider it a fledgling.
no idea why anyone would want to buy myspace, unless they have some great plan to bring it back to relevance... also I think 'fledgling' may be the wrong word here, more like 'geriatric'.
Maybe he needs to completely wipe incriminating messages from their servers.
What a giant waste of money. MySpace hasn't been cool since...um...2005?
What would he even do with it?
What would he even do with it?
well they have servers, i can imagine quite a few things you can do with those servers, and its probably cheaper to buy the infrastructure like that than make it yourself.
What would he even do with it?
Charge 15 bucks for creating a new page. 5 for changing the back ground. 2 dollars for a song upload.
oh and then finally kill myspace off.
I don't know anyone who uses Myspace except for music. Even then that's very few people.
quit buying outdated social networking crap blizzard and release diablo 3 and make me some more content for world of warcraft, getting bored waiting.
Battle.net integration?
More corporations that Activision plans to ruin. Not like MySpace was any good though.
If done right they'll integrate it into battle net. Easier clan and guild finding and public profiles to vet applicants. Might be a very good move although I can't see it overtaking facebook again.
no idea why anyone would want to buy myspace, unless they have some great plan to bring it back to relevance... also I think 'fledgling' may be the wrong word here, more like 'geriatric'.
At least while his attention is on that shit he aint destroying a beloved gaming IP.
Maybe to combat BINGSTORE.US and MADESHOPPING.NET
Toms, can't you just filter any thread that contains these keywords?
I don't know anyone who uses Myspace except for music. Even then that's very few people.
LMAO AWESOME!