News Corp says it is ready to sell MySpace

In an earnings call, declared today, News Corp. officially plans to sell MySpace. During the call, COO Chase Carey said that “now is the time” to try to place the social network “under new ownership.”

MySpace has its undergone drastic changes, last year, including a Boden-Up redesign, total repositioning as a media company and not a social network per se, renegotiation advertising deal with Google (an important part of the Web site revenue) and a staff mix which saw, more than one key executive moving into a new venture.

Furthermore, almost half of MySpace’s served pink slips early 2011 staff to reduce overhead.

Even News Corp. Despite the changes in today’s call, said that the parent company not entirely satisfied with the results. Ad revenues are lower than they once were, and “Been MySpace results below expectations,” said a company Rep.

“The new MySpace very well received by the market and we have some very encouraging metrics”, Carey said. “But the plan to reach MySpace to its full potential best to achieve, under new ownership.”

The MySpace renovations were not cheap for the parent company. In their statement result News Corp said that during cable and broadcasting revenues are solid, the company “$ 275 million pre-tax charge impairment of goodwill related to the digital media group and organizational restructuring at MySpace records.”

Rumors about MySpace’s eventual sale to an entity outside of News Corp. family have been swirling for some time. But Carey’s News Corp, which bought MySpace for $580 million in 2005, would prefer to happen the sale sooner rather than later suggest confirmations in today’s call.

MySpace has been with regard to the digital properties, shall be a fixer-upper; with News Corp to fix a lot done up. But are enough to make the repositioning, reorganization and site redesign, a good purchase for another entity? We are so curious as everyone learn how they will complete saga, and what MySpace once his News Corp. / Fox digital era become become end goes.