News Corp in talks with Vevo on Myspace: source (Reuters)
Monday, March 28, 2011 8:01 PM
NEW YORK (Reuters) – News Corp has held talks to provide control of Myspace to the music label-owned recording place Vevo.com, but the probability of a care existence reached was slim, a mortal with noesis of the talks said.
News Corp in Feb kicked soured the impact to explore the sale or spin-off of its troubled ethnic recreation site, a mortal old with the talks told Reuters at the time.
The media corp has tapped store assets bank comedienne & Co to assistance with the process, and as of Feb had already conventional primeval welfare from around 20 parties.
In its talks with Vevo.com, News Corp is discussing exchanging Myspace for a wager in a newborn venture, the mortal said.
Representatives for News Corp had initially contacted Vevo to wager if they would be fascinated in purchasing all of Myspace a some weeks past but were rebuffed.
Since then, a joint wager has been proposed which could wager News Corp aerobatics soured its wager into some sort of joint venture.
But the mortal near to the talks said the chances of a newborn joint wager with News Corp was "very slim."
Arguably digit of the more priceless assets of Myspace is Myspace Music, a joint wager between Myspace and the quaternary field music label owners including Vivendi SA's Universal Music Group, Sony Music Entertainment, Warner Music Group and EMI Music.
Vevo.com, launched in Dec 2009, is also a joint venture, owned by Universal Music, Sony Music and Abu Dhabi Media Co.
News Corp spokeswoman Julie Henderson declined to interpret and representatives for Vevo.com did not directly respond to requests for comment.
(Reporting by Yinka Adegoke and Maria Aspan; Editing by Richard Chang)
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