"I'd love to work with Myspace again," concludes a wide ranging BusinessWeek interview withMySpace co-founder and former CEO Chis DeWolfe. But will  the current CEO of gaming company MindJolt actually try to buy Myspace back? "It's a confidential process - but it's the biggest property for sale at what, in this market, would be a somewhat reasonable price," DeWolfe admitted.

What would it take to bring MySpace back to life?

"You have to understand what it was, and what it can be. You can't go head to head with Facebook and Twitter. You have to outflank them," said DeWolfe. "The question is, how long would that take? Facebook's founders were able to focus on growing the business until it was mature. Mark [Zuckerberg] has done the right thing in staying private as long as he can. Most acquisitions of Internet startups by larger public companies don't work very well."