MySpace, the social media also ran, is expected to net News Corp at least $100m when Rupert Murdoch finally manages to flog the service – according to the Telegraph.
Citing sources close to the deal the paper is quoting the healthier price tag as a result of hard ball tactics being played by Murdoch who is refusing to sell until the price is right.
The source was quoted as saying: “Until now, News Corporation has deliberately restricted information in order to get the price and interest up as high as possible. It’s turned into a dog race between the front runners.”
MySpace is expected to have a new owner by June 30 with games firm Activision Blizzard, owner of Bebo and myYearbook, thought to be amongst the frontrunners.