News Corp seeking valuation valuations in excess of $100m for MySpace

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.

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