MySpace Bidders Down To One: Activision’s Kotick
Myspace is in advanced deal talks with an investor group that would include Activision’s Chairmen and CEO Bobby Kotick, according to reports. Kotick's investment would apparently be outside of his role at Activision; and he would not have a day to day role in reshaping MySpace. News Corp would reportedly retain a 20% stake in the social network
Other interested bidders including Vevo, a group including Myspace co-founder and former CEO Chris DeWolfe, a group led by current CEO Mike Jones and several private equity firms are no longer in the running, according to AllThingsDigital. Vevo is rumored to have been forced to drop its bid because of its own complex ownership structure of major labels and investors.
No reports have leaked as to what new owners might do to save the struggling social media site.