News Corp is aiming to sell struggling social network site MySpace this week after three years of massive losses, according to some reports.
And it is reported that News Corp is looking to cut a deal on Wednesday or Thursday in order to have it completed in its fiscal year, which ends on Thursday.
The current lead bidders include private equity firm Golden Gate Captial and the advertising network Specific Media. And News Corp. might keep a small stake.
According to tracking firm comScore Inc, MySpace had 74 million visitors from around the world in May, down 32 per cent from a year earlier.
By comparison, Facebook had 1.1 billion, up 26 per cent; Twitter had 139 million, up 54 per cent; and LinkedIn had 86 million.